Stock Market Today: GIFT Nifty indicates a bearish start; Cipla, Vedanta in focus

Stock Market Today: GIFT Nifty on the NSE IX increased by 26 points, to reach 19587.5, indicating that Dalal Street will begin the day on a down note. On Friday, Nifty, which has for the past three days been finding support at its 50-day EMA, ended 115 points higher and formed a modest green candle with a long upper shadow on the daily chart.

Rupee rises; Tokyo stocks opened lower

A strong trend in equities markets and a dramatic decline in the value of the US dollar relative to its major international rivals helped the rupee gain 13 paise to close the day at 83.06 against the US dollar. As investors kept an eye on the FX market for future government action, Tokyo equities opened lower on Tuesday. With utilities down dramatically and investors pondering whether the Federal Reserve will need to keep interest rates higher for longer, the S&P 500 closed Monday with a roughly flat performance.

Stock Market Today: Stocks in focus

Cipla

For a $6 million payment, the pharmaceutical company sold its 51% ownership in Saba Investment, United Arab Emirates. The business no longer considers Saba and its subsidiaries, Cipla Middle East Pharmaceuticals FZ LLC in the United Arab Emirates and Cipla Medica Pharmaceutical and Chemical Industries in Yemen, to be subsidiaries.

Vedanta

The company announced the division of its operations into six publicly traded firms. The firm will be divided up into companies for aluminium, oil and gas, electricity, steel, and metal. Shareholders receive one share of each of the five newly listed firms for every share they now own in the corporation. It is anticipated that the procedure will be finished by September 2024.

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Also Read: Gold Rate Today: Price of yellow metal rises to the seventh heaven while silver halts. These are the prices from Delhi to Bangalore

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