[ad_1]
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic markets started Wednesday’s trade with losses, falling nearly 700 points or 1.1% to hover around 55,600. NSE Nifty 50 was sitting just above 16,600, falling more than 1%. Bank Nifty was down more than 2%, giving up 35,400. Broader markets were largely in the red while India VIX was up close to 5%. Tata Steel gained 3% as the top Sensex gainer, followed by Reliance Industries, Power Grid, and Mahindra & Mahindra. Bajaj Auto was down 5%, accompanied by ICICI Bank, Asian Paints, and HDFC Bank.
Much-awaited LIC IPO may get delayed given the deteriorating geopolitical situation and the consequent volatile state of financial markets. Market watchers point out that the government’s idea to rethink the timeline is understandable pointing out that sticking to the March-end target, amidst the prevailing subdued sentiment, could require the shares to be priced lower than the currently expected Rs 2,000-2,100. Lower pricing of the LIC IPO would not help the government reach its divestment target. Only in a good market, experts say, would it be possible to attract a market capitalisation of Rs 13-14 lakh crore. Earlier yesterday, Nirmala Sitharaman said that the government may reassess its timeline given the market conditions.
[ad_2]
Source link