Sustained foreign inflows have been helping stock markets reach new highs repeatedly.
Share Bazaar News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets continued to scale higher and once again reached fresh highs on Tuesday. S&P BSE Sensex now sits at 45,608 while the 50-stock NSE Nifty is at 13,329. Global cues are positive on Wednesday morning after equity indices on the Wall Street closed with gains. S&P 500 surged 0.28% while Dow Jones ended 0.35% higher. The positivity was seen rippling down to Asian stock markets as well. Shanghai Composite was trading with gains along with Hang Seng on Wednesday morning. TOPIX was up 0.77% while KOSPI zoomed 1.14%. SGX Nifty was trading 37 points higher during the early hours of trade.
Private sector lender ICICI Bank said it will sell 2.21% stake in its brokerage arm ICICI Securities through an offer for sale. ICICI Bank will sell the stake at an offer price of Rs 440 per share, beginning today. The floor price is at a discount to the stock price of Rs 508 apiece, as on closing on Tuesday. The stake sale could help ICICI Bank beef up capital fetching the bank Rs 313 crore. The share sale process is happening towards compliance with the requirement of minimum public float of the company, said the private sector lender. Today the bidding will open only for non-retail investors while retail investors will be allowed to participate in the process tomorrow.