Stock Market Today: GIFT Nifty on the NSE IX is trading 18 points higher at 19,529, indicating that Dalal Street is off to a good start on Wednesday. While consolidating near the 50-day moving average, the Nifty closed the day 37 points higher, forming a little bearish candle on the daily chart with a minor lower shadow. According to observers, this pattern predicts a slight upside bounce in the market with range bound movement.
Rupee falls; Tokyo stocks opened higher
The rupee fell 17 paise to 82.80 against the US dollar on Tuesday, owing to a resurgence in crude oil prices and the greenback in global markets.
Tokyo stocks opened higher on Wednesday, following Wall Street gains, as data increased optimism for a slowdown in US interest rate hikes.In early trade, the Nikkei 225 index advanced 0.56 percent to 32,441.84, while the wider Topix index rose 0.46 percent, to 2,314.05.
Stock Market Today: SoftBank to sell 1.17 percent stake in Zomato
SoftBank Vision Fund (SVF Global) is expected to sell its 1.17 percent share in food delivery firm Zomato in a block sale for Rs 940 crore, according to the reports. Zomato’s stock is opened 5% higher on the exchanges the day before, when 184 million shares worth a 2.14 percent stake are believed to have changed hands in a block trade.
SEBI would cut IPO timelines
In order to ease the supply situation in the equity markets, the Securities and Exchange Board of India (SEBI) should take steps to streamline the regulations surrounding initial public offerings (IPOs), including clearance and underwriting timelines.
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