Stock Market Today: With the Indian stock market indices off to a severely negative start, the Gift Nifty was trading at about 24,388 level, which was roughly 310 points below the closing price of the Nifty futures. The charts show that the Nifty 50 Index is now on a short-term negative trend. Monday’s opening of the local equity benchmark indices, Sensex and Nifty 50, is anticipated to be lower due to a significant sell-off in foreign markets. Due to profit-booking in the face of weak global market cues, the key indexes of the Indian stock market concluded more than one percent lower on average.
Stock Market Today: Stocks in focus
IDBI Bank
Currently, IDBI Bank Ltd. serves clients from all market segments as a full-service universal bank. As the premier Development Financial Institution (DFI) in the business world, Industrial Development Bank of India, the precursor organisation to IDBI Bank Ltd., left behind a wealth of legacy. IDBI Bank is selling Omkara Asset Reconstruction Company (ARC) its portfolio of legacy stressed assets worth Rs 6,151 crore in an effort to help the government obtain a higher price for the planned sale of its interest in the institution.
Britannia
A global Indian corporation, Britannia Industries Limited, sells breads, cookies, and dairy goods. Britannia said on Friday that its consolidated earnings for the June quarter increased 10.5% year over year (YoY) to Rs 506 crore, while revenue increased 4% YoY to Rs 4,130 crore.
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