Stock Market Today: Asian markets rose somewhat in early trade on Wednesday, as investors sought a clear direction amid lower US consumer confidence and a late rise in US equities.
The Nikkei jumped 0.3%, the Kospi increased 0.3%, while Australia’s S&P/ASX 200 and Hang Seng soared 0.7% each.
US futures were higher, with the S&P 500 and Dow Jones Industrial Average rising 0.7% each. The Nasdaq 100 was up 0.1 percent.
Benchmark indices rose for the seventh consecutive day on Tuesday, the longest streak since September 2024, but then fell after reaching a three-month high. The NSE Nifty 50 increased 0.04% to 23,668.65 after topping 23,800 intraday, while the BSE Sensex closed up 0.04%.
Foreign portfolio investors remained net purchasers in the fourth session, investing Rs 5,371.57 crore in shares. Domestic institutional investors turned net sellers, selling Rs 2,768.87 crore.
The rupee ended an eight-day winning streak, falling 12 paise to 85.76 per US dollar, as the dollar index and crude oil prices increased.
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Infosys: The firm has established a step-down subsidiary, Infosys BPM Netherlands B.V.
Indian Overseas Bank: The bank has been issued an income tax demand of Rs 559 crore and intends to appeal against this demand.
Minda Corp: The company will deliberate on raising funds through the issuance of securities or other methods on March 28.
PRAJ Industries: Ashish Gaikwad has been appointed as MD-Designate, effective February 3, and will assume the role of MD on July 1, 2025.
Jyothy Labs: The company plans to divest its entire stake in Jyothy Kallol Bangladesh to Kallol Enterprise.
Varun Beverages: The company has acquired a 14% interest in Aspirative Creative Ventures for Rs 2.24 crore to facilitate a solar power initiative.
Arvind Smartspaces: The firm has successfully sold 200 plots valued at Rs 180 crore during the launch of its project in Bengaluru.
Star Health: The insurer stated that it has not received any notifications from the Insurance Regulatory and Development Authority of India regarding issues with its claims settlement practices, refuting recent media claims.
Maruti Suzuki: The company has been issued a draft assessment order by the Income Tax Department amounting to Rs 2,966 crore.
Welspun Enterprises: Its subsidiary, Welspun Michigan Engineers, has won a Rs 209-crore contract from the Brihanmumbai Municipal Corporation.
Advait Energy Transitions: The firm has been selected as the successful bidder at the L1 Stage for the supply and installation of transmission lines.
Ireda: The company has sanctioned a borrowing program of up to Rs 30,800 crore for the fiscal year 2026.
Redington: The firm has received an income tax demand order totaling Rs 175 crore, inclusive of interest.
NCC: The company has secured two contracts worth Rs 10,805 crore from BSNL for BharatNet projects in Uttarakhand and Madhya Pradesh.
HCL Tech: The firm has introduced an AI-driven smart manufacturing solution, Agentic, on Google Cloud.
The rupee began higher on Tuesday at 85.58 per US dollar, buoyed by improved global sentiment following US President Donald Trump’s promise of flexibility on forthcoming tariffs, alleviating market concerns, according to Reuters.
However, the domestic currency lost its eight-day winning streak as the US dollar index and crude oil prices increased. The rupee closed 12 paise lower at 85.76, down from Monday’s more than two-month high of 85.64. It had previously achieved its greatest streak since January 15, 2024.
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