Benchmark indices started with nominal gains on Wednesday amid mixed global cues
Benchmark indices started with nominal gains on Wednesday amid mixed global cues. The S&P BSE Sensex opened 6 points higher at 73,063 levels, while the Nifty50, too, added 6 points at open to trade at 22,203 levels.
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In the broader markets, the BSE MidCap index advanced 0.26 per cent, and the BSE SmallCap index gained 0.44 per cent.
Individually, shares of Zee Entertainment plunged 10 per cent after the company clarified that it is not involved in any negotiations in relation to Sony merger deal. Separately, market regulator Sebi has found a hole of more than $240 million (Rs 2,000 crore) in the accounts of Zee Entertainment Enterprises Ltd., dealing another blow to the embattled media firm, Bloomberg reported.
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Hindalco shares, meanwhile, rallied 3 per cent after the company’s wholly-owned American subsidiary Novelis Inc. filed for an initial public offering in the US.
Among sectors, the Nifty Metal index gained 1 per cent, and the Nifty PSU Bank index 0.8 per cent. The Nifty Media index, on the flipside, fell 2 per cent.
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Global Cues
In Asia this morning, key markets trading on a flat note following tepid cues from the US peers.
Overnight, the US market ended with losses with Nasdaq down 0.9 per cent ahead of the highly anticipated Nvidia earnings later tonight. Dow Jones was down 0.2 per cent.
