Stock Market Today: GIFT Nifty indicates a negative start; Hero MotoCorp, Zee Entertainment in focus

Stock Market Today: The NSE IX's GIFT Nifty fell 23 points, or 0.12%, to close at 19,779, indicating that Dalal Street would open down on Wednesday. Before this week's key corporate earnings releases and the traditionally slow start to August on Tuesday, the S&P 500 and Nasdaq closed lower. The wide NSE Nifty dropped 20 points or 0.10% to close at 19,733, while the S&P BSE benchmark Sensex fell 68 points or 0.1% to end at 66,459 points.

Oil prices rises

After industry data revealed a significantly steeper-than-expected draw in crude oil stocks last week in the U.S., the largest consumer of fuel in the world, oil prices increased more than 1% on Wednesday, trading close to their highest level since April.By 00:01 GMT, October Brent crude futures were up 92 cents, or 1.1%, to $85.83 per barrel, while October West Texas Intermediate crude was up 84 cents, or 1.03%, to $82.21.

Stock Market Today: Stocks in focus

Hero MotoCorp

As part of a money laundering probe, the Enforcement Directorate searched Pawan Munjal, the executive chairman of Hero MotoCorp, and other individuals. After the ED filed a case against them in accordance with the Prevention of Money Laundering Act's (PMLA) guidelines, the raids were conducted.

Zee Entertainment

In order to appeal an NCLT decision that rejected the private lender's request to begin bankruptcy proceedings against the media giant, IDBI Bank filed a petition with the National Company Law Appellate Tribunal (NCLAT) against Zed Entertainment.

Adani Total Gas

Adani Total Gas recorded a profit for the fiscal first quarter of Rs 150.22 crore, an increase of 8.6% over Rs 138.37 crore for the same period in FY23. It reported operating revenue of Rs 1,135.35 crore, an increase of 2.3% over Q1FY23's operating revenue of Rs 1,110.21 crore.

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