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Indian market closed in the red on Wednesday due to profit booking. Sensex fell 160 points and Nifty closed below 25,000. Power, healthcare, and realty stocks gained, while oil & gas, energy, and FMCG stocks declined. Torrent Power, Divi’s Laboratories, and Home First Finance Company hit record highs.

Vedanta Ltd on Wednesday informed the exchanges that its board meeting scheduled today was cancelled due to unforeseen circumstances. The Board was supposed to meet today to consider fourth interim dividend for FY25.

The inclusion of Indian debt in the FTSE Russell Emerging Market Government Bond Index also aided the yields. This inclusion will add to the hefty foreign inflows that domestic debt markets have received over the past year.

The fund would be raised through unsecured, rated, listed, subordinated, redeemable, fully paid up, non cumulative, non convertible debentures (NCDs) for an aggregate nominal value of Rs 1,000 crore on a private placement basis, it said.

Adani Enterprises on Wednesday approved share sale to large investors via qualified institutional placement (QIP) issue and has set the floor price at Rs 3,117.4750 per equity share.

Short covering occurs when traders buy back previously sold short shares, often leading to a price increase. Five stocks saw short covering on Wednesday, resulting in a decrease in open interest

TCS is set to report Q2FY25 results on Thursday. Brokerages expect decent numbers due to recovery in BFSI vertical and deal ramps. TCS stock has fallen more than 4% in a month

Zerodha co-founder Nikhil Kamath expressed desire to be a bank but faced challenges. Despite 62% profit growth in FY24, Zerodha remains the second largest brokerage firm behind Groww.

Samir Arora, Helios Capital founder, gives insights on various sectors including NBFCs, FMCG, real estate, and consumption. He mentions the current trends and outlook for these segments, highlighting strong potential in housing finance and microfinance, while noting mixed performance and future prospects for other sectors, particularly impacted by changing consumer behaviors and market conditions.

Indian indices Nifty50 and Sensex opened higher but closed lower due to FMCG and Oil & Gas sectors. RITES and Divi’s Labs saw significant gains, while ITC and Reliance declined.