Latest Stock Market News

The Dow Jones Industrial Average fell 224.6 points, or 0.67%, at the open to 33329.27

Citigroup is the banker to the deal, and TPG Capital is likely to sell the shares at Rs 184.55, a 0.6% discount to Thursday’s close price of Rs 185.60.

British banking stocks rallied, while shares in the power sector came under pressure after Hunt announced a windfall tax on oil and gas firms and extended it to power generation firms.

According to Sebi, the time period for the buyback process can be reduced to 66 working days starting from April 2023 and further cut it down to 22 working days from April 2024. Finally, the open market option can be closed down for buyback offers from April 2025.

IHH Healthcare Managing Director and CEO Kelvin Loh had stated: "With the recent Supreme Court judgement ruling making clear that we have conducted our investment into Fortis in a fair and transparent manner, we are discussing with Sebi to move ahead with the offer."

The construction of the complex, to produce up to 3.2 million tonnes per year (tpy) of petrochemicals, will begin in 2023 and be completed by 2026, Aramco said. The chemicals-to-crude unit will have a capacity of 46,000 barrels per day while the capacity of the cracker unit is 1.8 million tpy.

"Gold inched lower, as safe-haven demand from latest geopolitical concerns faded, while hopes that the US Federal Reserve would be less aggressive on rate hikes over coming months underpinned the market," said Navneet Damani, Senior VP - Commodity Research at Motilal Oswal Financial Services.

The Nifty Pharma index closed 0.39 per cent down at 12948.25.

While negating its higher high formation of the last four sessions, headline equity index Nifty formed a small negative candle on the daily time frame with a long upper shadow today on the weekly expiry day. “Now, it has to hold above 18,282 zones, for an up move towards 18,500 then 18,600 zones whereas supports are placed at 18,282 and 18,188 zones,” said Chandan Taparia of Motilal Oswal.

SBI has been authorised to issue and encash electoral bonds through 29 authorised branches. The authorised SBI branches include those in Lucknow, Shimla, Dehradun, Kolkata, Guwahati, Chennai, Patna, New Delhi, Chandigarh, Srinagar, Gandhinagar, Bhopal, Raipur, and Mumbai.