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The de-recognition by European regulators of the Clearing Corporation of India (CCIL) did not cause any disruptions in government bond trading on Tuesday as national regulators of foreign banks have offered concessions on the matter. The CCIL houses the trading platforms for sovereign bonds and derivatives. Yield on the 10-year benchmark bond eased 3 basis points to 7.09%.

The private equity major, through its affiliate Hulst B.V., sold 21,50,000 shares of the software major at Rs 4,125.44 apiece, according to bulk deals data on the BSE.

The public issue comprises a fresh issue of Rs 300 crore and an offer for the sale of 48.69 lakh equity shares. The offer also includes a reservation for a subscription by eligible employees.

For FY23, its post-tax net profit declined to Rs 12.31 crore against Rs 69.8 crore in the year-ago period. A statement from Spandana Sphoorty said the company had to write off Rs 702 crore worth of assets in the first quarter of FY23, which resulted in a massive decline in the profit.

The Dow Jones Industrial Average fell 34.08 points, or 0.10%, at the open to 34,017.62

The IPO comprises fresh issues of up to Rs 625 crore and an offer for sale (OFS) aggregating up to 1.7 crore equity shares by promoter and investor selling shareholders.

Revenue from operations too were down 9% year-on-year (YoY) to Rs 62,961 crore for the March quarter. It was Rs 69,323 crore in the same quarter of last year.

Nifty at the close ended 83 points higher at 18,148. Meanwhile, broader markets outperformed the headline indices, with Nifty Midcap 100 ending 0.97% higher.

The European Securities and Markets Authority (ESMA) has withdrawn recognition of six clearing corporations in India from April 30. The regulator had requested supervisory powers over the clearing corporations, but Indian regulators resisted and ESMA subsequently de-recognised the firms. Under the European Market Infrastructure Regulation (EMIR), a central counterparty (CCP) from outside the European Union must have ESMA recognition to offer clearing services to members or trading venues. However, ESMA has given recognition to four more third-country clearing corporations from Malaysia, Taiwan, Colombia and Israel.

The Nifty formed a small bodied bullish candle with minor shadows, indicating that bulls are getting fatigued after the recent rally, according to chartists. The index has been making higher highs in the last six trading sessions, and supports are gradually moving up. The index must hold above 18,081 zones to witness a rise toward 18,250 and 18,300 zones while supports are placed at 18,081 and 17,887 marks. Option data suggests a broader trading range between 17,700 and 18,500 zones.