Stock Market Update Today: Amid weak global cues, there is heavy selling in the domestic stock market today. Both Sensex and Nifty indices have weakened in today trading. The Sensex is seeing a fall of more than 500 points. At the same time, Nifty has also come close to 15700. There is an all-round sell-off in the stock market today. Bank and financial indices on Nifty have weakened 1 per cent. The IT index is also showing a weakness of about 1 percent. FMCG, metal and realty indices have also weakened by about 1 per cent. Other indices including auto, pharma are also seen in the red mark.
At present, there is a fall of 525 points in the Sensex and it is trading at the level of 52,652. On the other hand, Nifty is at the level of 15707, losing 143 points. Heavyweight stocks are selling. All 30 stocks of Sensex 30 are in red mark. Today’s top losers include INDUSINDBK, HUL, WIPRO, BAJFINANCE, TITAN and TECHM.
J&K Bank said that it will raise up to Rs 2000 crore through a mix of debt and equity in the financial year 2022-23. The board of directors of the bank in its meeting held on June 28 has approved the plan to raise capital.
Route Mobile said that the board has approved the proposal for buyback of equity shares of the company up to Rs 120 crore at a price of up to Rs 1700 per share. The maximum buyback share size will be 7.05 lakh equity shares, which is 1.12 per cent of the paid up equity.
India Cements has said that it has completed the acquisition of the entire paid up equity and preferential share capital of Springway Mining (SMPL). SMPL has become a wholly owned subsidiary of India Cements with effect from June 27, 2022. SMPL is in the process of setting up a cement plant in Madhya Pradesh.