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Indian department store chain Shoppers Stop reported an 83.2% drop in Q2 profit due to increased expenses and weaker demand. Customers have delayed purchases of clothes and cosmetics due to a late festive season. The company expects demand to improve in the third quarter as the festive season begins.

ICICI Lombard General Insurance, backed by ICICI Bank, has reported a 25.3% increase in pre-tax profit for the second quarter, driven by higher premiums and investment income. Profit before tax rose to INR 7.64 billion ($91.80 million) from INR 6.10 billion a year earlier, while profit after tax fell 2.2% to INR 5.77 billion due to higher provisions for tax.

These midcap stocks have the highest dividend yields, according to Axis Securities

Gold price jumped Rs 500 to Rs 60,650 per 10 grams in the national capital on Wednesday amid strong global cues in international markets, according to HDFC Securities. In the previous trade, the yellow metal had finished at Rs 60,150 per 10 grams.

Dow Jones Industrial Average fell 37.40 points, or 0.11%, at the open to 33,960.25. The S&P 500 opened lower by 15.85 points, or 0.36%, at 4,357.35, while the Nasdaq Composite dropped 94.07 points, or 0.70%, to 13,439.68 at the opening bell

The Futures Open Interest (OI) in the Nifty indicated a buildup of fresh short positions in index futures. Call writers were seen offloading their positions at the 19,800 strike, leading to a strong down in Nifty today. A double-top structure around the 19,850 levels is visible on the daily chart. A breakdown below the previous swing low of 19,635 can intensify the selling pressure, which can take the index to 19,480 levels, said Ashwin Ramani, Derivatives and Technical Analyst, SAMCO Securities.

Suzlon stock went up to 5% in a single day and the overall sentiment of the stock is looking bullish. It took support above a trendline and for the past few days, it has been hitting the upper circuit. The stock is experiencing good buying pressure. The stock is heading toward its next target of Rs 37.20 level as Target 1 and Rs 45.20 level as Target 2

The Indian rupee closed unchanged on Wednesday as likely U.S. dollar sales by the Reserve Bank of India (RBI) kept the local unit off its record low, offsetting pressure from higher crude oil prices and equity-related outflows.

Net interest income, the difference between interest earned and interest expended, rose 18% on year to Rs 5,077 crore. Provisions for the quarter was Rs 974 crore, compared with Rs 1,141 crore a year ago.