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Home CURRENT AFFAIRS BUSINESS Stock Market Today: GIFT Nifty indicates a flat start; HDFC Bank extends...

Stock Market Today: GIFT Nifty indicates a flat start; HDFC Bank extends loan of Rs 2000 crore to Vodafone Idea

The GIFT Nifty on the NSE IX down 12.5 points, or 0.06 percent, to 19,347.50 on Friday, suggesting a muted opening for Dalal Street.

Stock Market Today

Stock Market Today: Dalal Street appeared set for a subdued start on Friday as the GIFT Nifty on the NSE IX fell 12.5 points, or 0.06 percent, to 19,347.50. Today’s closing Nifty point movement resulted in the formation of a high wave-like candle pattern on the daily chart. Nifty’s short-term upward trend is still intact, and it can move back up into the 19200–19300 range in the upcoming sessions before bottoming out once more. According to HDFC Securities’ Nagaraj Shetti, immediate support is located between 19050 and 19000 levels.

Stock Market Today: Rupee rises

In range-bound trade on Thursday, the rupee gained 6 paise to settle at 83.22 against the US dollar as the US currency pulled back from its high levels following the US Federal Reserve’s rather dovish policy meeting. The three primary stock indexes on Wall Street had a roughly 2% increase on Thursday due to optimism that the U.S. Federal Reserve’s rate-hiking campaign may be coming to an end. Additionally, a number of positive quarterly financial reports contributed to the bullish sentiment.

HDFC Bank extendes loan of Rs 2000 crore to Vodafone Idea

The biggest private sector lender in India, HDFC Bank, has given Vodafone Idea (Vi) a loan of Rs 2,000 crore to help the struggling telecom company pay its outstanding licence fees and meet its 5G spectrum payment obligations. Vi has already paid over Rs 1,700 crore in spectrum use charges (SUC) and more than Rs 350 crore in previous licencing costs for the fiscal years FY22 and FY23. Additionally, the business is in discussions with possible investors about equity finance.

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