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Indian indices continued to trade with cuts on the second straight day. Nifty settled at 18,269, dropping 0.8%, while Sensex ended at 61,337, shedding 461 points.

“The board of directors duly constituted a committee to be called “Bonus Allotment Committee” consisting of Mr. Nelson Fernandes, Managing Director and Mr. Ivor Desouza, Director of the Company, for the purpose of overseeing the conduct of the postal ballot process and other connected matters till the completion of the bonus issue process,” added the filing.

The Nifty IT index closed 1.33 per cent down at 28702.2.

The three-day bidding process for Elin Electronics IPO will close for subscription on Thursday, December 22.

The Nifty Realty index closed 1.51 per cent down at 439.8.

IRM Energy provides piped natural gas (PNG) and compressed natural gas (CNG). It has operations in states including Gujarat, Punjab and Tamil Nadu and serves 168 industrial customers, 202 commercial customers, 43,183 domestic customers, as of September 2022.

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“Hopefully India will be able to deal with inflation without having to resort to as sharp an increase in rates as is happening in certain western countries. The scale of the Indian market is huge. The domestic market holds us in better shape than many others and Europe is very badly affected in many ways. The US also has its own issues although they are relatively better off.”

"Domestic market Gold price got support from weaker rupee. Comex Gold prices are trading in the green zone in the Asian trading hours," said Dilip Parmar, Research Analyst at HDFC Securities.

The local currency this week was bogged down by hawkish rate hikes from the U.S. Federal Reserve and the European Central Bank. Both raised rates by 50 basis points (bps), along expected lines, but the accompanying statement and comments were seen hawkish relative to expectations.