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The Indian market is expected to trade higher following positive global cues. The Sensex rose more than 400 points while the Nifty50 closed above 18,800 levels. India VIX was down by 5.46%. Options data suggests a trading range between 18,700 to 18,950 zones. Nifty formed a bullish candle on the daily frame and has to hold above 18,777 zones to witness an up move towards 18,888 then 19,000 zones. Bank Nifty index formed a strong bullish candle as buying interest was seen across the banking space.

Gold and silver prices traded differently in early trade on Wednesday. While gold prices traded in the green, silver futures declined. The Dollar Index remained flat, providing some support to gold prices. However, the outlook for gold remains weak, with key support levels at around $1,900 and $1,870. Gold futures have declined in June but are up on a year-to-date basis. Silver futures have declined in June but have a marginal gain on a year-to-date basis. The physical price of gold in India stood at Rs 59,500 per 10 grams.

​But I think that the reason to SEBI move that institutions cannot hold more than 10%. And this combined entity, of course, will have a much larger weight will take some more time for markets to adjust the overall holding.

Asian shares experienced hesitation due to conflicting factors such as positive U.S. economic news and global growth concerns. The yen hit a 15-year low against the euro and Japan hinted at intervention to prevent further losses. The strength of the U.S. data and hawkish commentary from the European Central Bank undermined bonds, narrowing the odds on further rate hikes. Meanwhile, a panel of central bankers including Federal Reserve Chair Jerome Powell, ECB head Christine Lagarde, and Bank of Japan Governor Kazuo Ueda gathered in Portugal. Overall, caution persisted in markets, with little change in Asia-Pacific shares and a dip in Chinese blue chips. Nasdaq and S&P 500 futures also experienced declines. Bond yields in Europe rose, with markets anticipating a rate hike by the central banks. The euro and dollar both strengthened against the yen. Meanwhile, gold steadied, and oil prices rose slightly.

The current account deficit was lower than the March’22 quarter’s 1.6 percent of GDP ($ 13.4 billion) and also sequentially lower than 2 percent of GDP ($16.8 billion) in the December’22 quarter, according to the preliminary data released by the Reserve Bank of India.

The Securities and Exchange Board of India (Sebi) will phase out 16 offices spread across the country as part of a restructuring exercise. These offices were opened between 2012 and 2018 when Sebi was headed by U K Sinha.

Bankers are wary of their decisions being questioned by vigilance and investigation agencies later, and want some assurance from the regulator before implementation of the circular. Lenders have held discussions with all stakeholders, including the government, soon after the circular was published, and want additional clarity before provisions are implemented.

The brokerage recommended a handful of stocks in the microcap universe such as Wonderla Holidays, Somany Ceramics, Greenpanel, Sansera Engineering, Fusion Micro Finance, Repco Home Finance, Nazara Tech, Tatva Chintan, Astra Microwave, Kewal Kiran and Gokaldas Exports.

The cutoff rate - the rate of interest paid to investors - was set at 7.74%, sources aware of the development said. The bonds have a call option 10 years from the allotment date.

The chairman of the Adani Group assured shareholders of the highest corporate governance standards. "The short-selling incident resulted in several adverse consequences that we had to confront," said Adani, 61. "Even though we promptly issued a comprehensive rebuttal, various vested interests tried to opportunistically exploit the claims made by the short-seller... These entities engaged and encouraged false narratives across various news and social media platforms."