Updates on the stock market include: Sensex Up 80 Points, Nifty Below 18,700, and 11% Rally for ICICI
The benchmark indexes, the S&P BSE Sensex and the 50-packed index both increased slightly to trade at 63,018 and 18,650 levels, respectively.
The Nifty Midcap 100 and Nifty Smallcap 100 indexes also saw declines of up to 0.3%, reflecting negative sentiments that were also present in larger markets. Meanwhile, the India VIX, a measure of volatility, increased 5%.
The Nifty FMCG, Nifty Bank, and Nifty Auto indexes all increased by up to 0.5% sectorally. Nifty Media and Nifty Metal indexes, on the other hand, increased by 0.4%.
On Thursday, ICICI Bank will explore delisting ICICI Securities.
On Thursday, June 29, the board of directors of ICICI Bank, the second-largest private lender in India, will meet to discuss a proposal for delisting its institutional and retail brokerage business, ICICI Securities. The lender said that the plan to delist ICICI Securities would be in compliance with Sebi (Delisting) laws in its submission to the exchanges on Monday before market opening hours.
World cues
Early on Monday, oil prices increased and Asian markets marginally declined as traders assumed that the weekend’s failed Russian mercenary uprising stoked concerns about stability and petroleum supplies.
US equities ended the week down on Friday, concluding a week dominated by testimony from Federal Reserve Chairman Jerome Powell, who hinted at future interest rate rises but maintained the central bank would act cautiously.
