Market News

Shantanu Mitra, the CEO and managing director of SMFG India Credit, is set to resign at the end of this month, as informed to the board. This decision closely follows Sumitomo Mitsui Financial Group's... agreement to acquire a 20% stake in Yes Bank. The SMFG board is currently searching for Mitra's successor.

The Enforcement Directorate has summoned senior counsel Arvind Datar regarding his advice to Care Health Insurance on ESOPs issued to Rashmi Saluja. The investigation revolves around whether the ESOP... issuance violated regulations, leading to scrutiny of legal opinions provided. Former Irdai chairman Hari Narayan may also be questioned in connection with the matter.

The Reserve Bank of India is pushing banks and finance companies to develop low-bandwidth apps and adaptable products to reach underserved populations in remote areas, aiming for 100% financial... inclusion. Simultaneously, the RBI emphasizes the importance of robust cybersecurity features in these new digital offerings.

Around 18.05 crore Wipro shares, representing a 1.72 per cent stake, were transacted among promoter group entities via open market deals. Azim Premji Trust sold shares to Prazim Traders and Zash... Trader at an average price of Rs 258.99 per share, amounting to Rs 4,674.77 crore. Following the transaction, Wipro's shares experienced an increase, closing at Rs 258.

Sensex today:Indian markets closed higher on Wednesday, supported by gains in IT and oil & gas stocks. Global cues and progress in U.S. trade talks lifted investor sentiment. Broader markets saw... profit booking, but large-caps remained resilient.

Indian headline indices closed with modest gains on Wednesday as IT strength offset banking weakness. Analysts maintain a bullish view, citing a golden crossover and support at 24,850, with near-term... targets set around 25,350.

Ace investor Vijay Kedia acquired 1 lakh shares in Advait Energy Transitions for ₹17.25 crore. The smallcap firm saw a 34% one-month gain and posted strong Q4FY25 results, with revenue rising... 225% YoY and net profit up 58%.

Mirae Asset MF, BlackRock, and Goldman Sachs, among others, on Wednesday bought nearly a 1 per cent stake in financial services company Aditya Birla Capital for Rs 568 crore through open market... transactions.

NSE electricity futures: NSE has secured Sebi's approval to introduce monthly electricity futures, aiming to deepen power markets, provide hedging tools, and attract large-scale climate finance. The... move supports long-term reforms and India's net-zero goals under the Electricity Act, 2003.

Sensex rose 123 points to close at 82,515 on Wednesday, with eight BSE Commodities Index stocks hitting 52-week highs. These strong breakouts, led by Camlin Fine Sciences and Valiant Organics, signal... bullish momentum and investor confidence across the sector.

The S&P 500 and Nasdaq opened near record levels on Wednesday, as a cooler-than-expected inflation report calmed concerns around tariff-driven price pressures and fanned expectations for interest rate... cuts.

Tanla Platforms will hold a board meeting on June 16 to evaluate a share buyback proposal. The move may enhance shareholder value and reflect management's confidence in financial health, while... signaling its capital allocation strategy and long-term growth outlook.

NBFC-MFIs saw their equity shrink 1.8% and debt funding drop 36% in FY25 amid tightened lending by banks and investors. Loan portfolios also contracted nearly 14% as lenders slowed disbursements due... to asset quality concerns.

The Nifty Pharma index closed 0.5 per cent up at 22057.15.

An IIM-Ahmedabad manager was swindled out of nearly Rs 50 lakh in an elaborate online trading scam. Lured through a Facebook link to a WhatsApp group offering stock market tips, the victim invested in... a bogus IPO scheme via a fraudulent mobile app.

The Nifty Realty index closed 0.09 per cent up at 1027.25.

The 30-share BSE Sensex closed up 123.42 points at 82515.14

There are a range of tax benefits offered to senior citizens which include higher exemption limit, higher deduction on medical insurance premium and deduction against the expenses incurred on the... treatment of specified diseases

Markets closed with modest gains on Wednesday, driven by IT and pharma stocks. Liquor shares saw mixed moves after Maharashtra's policy changes, while Wockhardt and RattanIndia Power rallied strongly.... BSE fell after ASM inclusion triggered investor caution.

The Nifty IT index closed 1.26 per cent up at 38784.3.

Shriram Finance, Power Grid, Adani Ent., Adani Ports SEZ and BEL were among the top losers on NSE in today's trade.

In the Nifty pack, 28 stocks closed in the green, while 22 stocks ended in the red.

The Liberalised Remittance Scheme, AIF structures at GIFT City, and the concept of accredited investors are all opening new doors for Indian investors.

The NSE Nifty index closed 37.16 points up at 25141.4

The Nifty Bank index closed 0.3 per cent down at 56459.75.