Stock Market Today: The GIFT Nifty trends show that the Indian index opened flat, down 14 points, compared to the broader market. Around 24,476 was the trading level for the Nifty futures. Sector gains were led by Nifty Auto, which increased by 2.2 percent. Nifty Consumer Durables and Nifty Pharma, which increased by 1.7 and 1.6 percent, respectively, were next. Nifty FMCG increased by 1%, while Nifty PSU Bank and Nifty Realty both saw gains of 1.1 percent. After three days of losses, oil prices rose on Wednesday as an industry survey revealed that U.S. crude and fuel inventories decreased last week, indicating stable demand, and that the prognosis for interest rate reductions improved.
Stock Market Today: Stocks in focus
Swan Energy
The Swan Group is one of the top private sector companies in India, having been involved in the textile, real estate, and oil and gas industries for more than a century. On Monday, three affiliates of Blackrock purchased a Rs 304 crore stake in Swan Energy Ltd. through open market transactions. Among the sellers were two overseas investors. NSE block trade data shows that 2I Capital PCC and Dovetail India Fund sold 15 lakh and 12 lakh shares, respectively, at Rs 666.2 per share.
Bajaj Finserv
An Indian non-banking financial services provider, Bajaj Finserv Limited specialises in lending, insurance, wealth management, and asset management. The business update issued by Bajaj Allianz General Insurance on Monday revealed provisional numbers for June that show the company underwrote a gross direct premium of Rs 1,234 crore. For June, Bajaj Allianz Life Insurance’s total new business premium was Rs 1,082 crore.
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