Live: Sensex, Nifty Decline; Rupee Opens Flat

• Benchmark indices fluctuate between gains and losses
• Nifty down 0.2% at 11,201
• Sensex down 0.25% at 37,880
• Nifty Bank down 1.2% at 21,160
• Nifty Midcap index down 0.3%
• Nifty Smallcap index down 0.2%
• India Volatility Index up 2% to 20.15
• Nifty Pharma is the top sectoral gainer; up 1.7%
• Nifty FMCG and Nifty Media are the other sectoral gainers; up 0.5% each
• Nifty PSU Bank is the top sectoral laggard; down 1.7%
• Nifty Metal, Nifty Realty indices fall 1% each
• Dr Reddy's Laboratories is the top Nifty gainer; up 2.7%
• Three out of the top five Nifty gainers are pharma stocks
• BPCL is the top Nifty laggard; down 2.6%
• 706 stocks on the NSE trade with gains while 922 are declining

The rupee has opened little changed after ending lower for the second straight day on Tuesday.

The currency opened at 73.81 against the U.S. Dollar, as compared to Tuesday's close of 73.86. It was the fourth worst performing currency in Asia on Tuesday.

Traders today will be watching out for the Current Account Data for the June Quarter. Analysts are projecting a surplus of $17.5 billion.

Bond market traders will await a potential announcement of India's borrowing plan for the next six months. Fiscal deficit data and the release of the RBI report on state finances will also be awaited.

• 80,472 new cases reported over the last 24 hours
• Total confirmed cases now at 62,25,763
• Active cases at 9,40,441
• Patients cured / discharged / migrated at 51,87,825
• Death toll nears the mark of 1 lakh
• Death toll rises to 97,497
• 1,179 deaths reported over the last 24 hours
• 86,428 patients recovered over the last 24 hours

The steel producer has secured approval from the Indian Railways for regular rail supplier status, becoming the first private company to do so.

The Research Designs & Standards Organisation (RSDO), has approved the field performance of UIC 60 kg, 880 Grade prime (Class-A) rails made by the company at its Raigarh plant, it said in an exchange filing.

The RSDO works under the ambit of the railway board. The field performance test report has been accepted by the railway board.

The release also said that it has begun supplying 1080 grade Head Hardened rails to Kolkata Metro Rail Project as well as the Pune Metro.

The company exported 2.5 lakh tonnes of rails through Indian companies like IRCON and STC to customers in Bangladesh, Sri Lanka and Africa.

Shares gained as much as 1% to Rs 193.9, post the announcement. The stock is up for the fourth straight day.

The company informed the exchanges this morning that General Atlantic will be investing Rs 3,675 crore in Reliance Retail Ventures.

The investment values RRVL at a pre-money equity value of Rs 4.28 lakh crore. This is higher than the valuation for the investments made by Silver Lake and KKR, which valued the retail venture at Rs 4.21 lakh crore.

General Atlantic will hold a 0.84% stake in the company, post this investment.

This is General Atlantic's second investment in a Reliance subsidiary. It has earlier invested Rs 6,598 crore in Jio Platforms.

This is the third investment in Reliance Retail after Silver Lake and KKR.

Shares are up for the fourth straight day, currently trading 0.6% higher at Rs 2,257.