Stock Market Today: GIFT Nifty indicates a flat start; HDFC Bank, Maruti Suzuki in focus

Stock Market Today: GIFT Nifty on the NSE IX rose 9.5 points, to 19441, indicating that Dalal Street was set for a quiet start on Wednesday. The Nifty closed around 110 points lower today, forming a modest red candle on the daily chart, reflecting the market's inability to sustain the highs.

Rupee falls; Tokyo stocks opened lower

The rupee fell 14 paise to settle at 83.20 against the US dollar on Tuesday, as a strong US currency and weak domestic equities dampened investor optimism. Tokyo markets began down on Wednesday, following losses on Wall Street, as the dollar briefly surpassed 150 yen overnight as a result of rising US Treasury yields.The Nikkei 225 index down 1.49 percent, or 464.40 points, to 30,773.54 in early trade, while the wider Topix index fell 1.33 percent, or 30.33 points, to 2,245.14.

Stock Market Today: Stocks in focus

HDFC Bank

The bank informed its staff of management changes in a thorough memo. IT and technology have been assigned to the CEO. Arvind Kapil will supervise mortgages and retail businesses, while Ashish Parthasarthy will handle branch business.

Bajaj Finserv

The GST authorities issued Unit Bajaj Allainz General Insurance a Rs 1,010 crore-show cause cum demand notice for allegedly failing to pay GST on co-insurance and re-insurance premiums.

Maruti Suzuki

The Income Tax Authority issued the carmaker a draught assessment order for Rs 2,160 crore for fiscal year 2019-20. The corporation intends to raise objections with the Dispute Resolution Panel. Furthermore, total output for September was 1.74 lakh units, a 1.4% decrease year on year.

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