Stock Market Today: GIFT Nifty indicates a flat start; Centre to borrow Rs 6.55 lakh crore by issuing government securities

Stock Market Today: GIFT Nifty index on the NSE IX trading 4.5 points, or 0.02 percent, higher at 19,737, indicating that Dalal Street will open to a slow start on Wednesday. On Tuesday, the Nifty ended 10 points lower and formed an Inside Body candle, signalling the potential continuation of a trend that is currently range-bound. Early on Wednesday, as markets concentrated on a "soft landing" for the U.S. economy and low supplies heading into winter, oil prices nudged up.

Stock Market Today: Byju's restriction may let go of 4,000-5,000 employees

Arjun Mohan, the new CEO of Byju in India, has started a significant reorganisation that could result in the loss of 4,000 to 5,000 jobs, according to persons acquainted with the situation. According to sources, Aakash would also be affected by these job cuts, which are anticipated to affect Think and Learn Pvt Ltd employees who work in India and are employed by Byju's. Mohan, a longstanding Byju veteran who was chosen CEO last week, has communicated these decisions to senior officials in the firm, the job losses are expected to touch numerous functions such as sales, marketing, and other areas where there is significant overlap.

Centre will borrow Rs 6.55 lakh crore by issuing government securities

In the second half of 2023–2024, the Centre will borrow Rs 6.55 lakh crore by issuing government securities, with Green Bonds worth Rs 20,000 crore comprising the overall plan, the finance ministry announced on September 26. The Center's full-year gross borrowing plan was estimated in the Budget for 2023–24 to be a record Rs. 15.43 lakh crore on a gross basis and Rs. 11.8 lakh crore in net terms. It seemed improbable that the Ministry of Finance will alter the government's borrowing strategy for the second half of 2023–2024 and raise the required Rs 6.55 lakh crore according to the schedule revealed in late March. By issuing bonds through weekly auctions, the Reserve Bank of India (RBI) administers the borrowing programme on behalf of the government.

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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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