Latest Stock Market News

​India’s government bond market could see inflows worth $100 billion over the next three to five years as operational issues are streamlined, prompting large institutional investors such as sovereign wealth funds and central bank reserve managers to favor debt in the world’s fastest-growing major economy, HSBC Asset Management India said.

​ The Indian rupee was largely flat on Wednesday despite broad weakness in its Asian peers, with traders expecting the local currency to trade in a tight range through the day.

Gains were seen in PNB, IndusInd Bank, AU Small Finance Bank, and SBI, while ICICI Bank, Axis Bank and IDFC First Bank saw some selling pressure. The index recouped losses as it bounced back after retesting its 200-DMA placed at 44,650 on the daily chart.

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​Realty major DLF Ltd on Wednesday reported a 57 per cent increase in its standalone net profit to Rs 463.66 crore in the third quarter of this fiscal year on the back of higher total income. Its net profit stood at Rs 294.86 crore in the year-ago period.

The Nifty Auto index closed 1.27 per cent up at 18593.7.

The short-term trend of Nifty seems to have reversed up, but the uncertainty remains in the market at the highs. The market could encounter strong resistance around 21,500-21,600 levels in the coming session. Immediate support is at 21,220 level, said Nagaraj Shetti of HDFC Securities.

Sanjeev Bikhchandani, Founder, Info Edge, hopes for easing of angel tax and incentives for investors in VC funds and startups to boost domestic venture capital industry and investments. He believes the IPO processes for new-age tech companies are streamlined and do not require any changes. Many companies that flipped to list overseas are now returning to India as they cannot list overseas.