Indian share markets witnessed volatile trading activity yesterday and ended higher.
Benchmark indices swung between gains and losses amid mixed investor sentiment across global markets.
At the closing bell yesterday, the BSE Sensex stood higher by 98 points (up 0.2%).
Meanwhile, the NSE Nifty closed higher by 36 points (up 0.2%).
SBI and Shree Cement were among the top gainers.
HDFC and IOC, on the other hand, were among the top losers.
The BSE Mid Cap index and the BSE Small Cap index ended up by 0.6% and 0.5%, respectively.
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Sectoral indices ended on a positive note with stocks in the banking sector, IT sector and metal sector witnessing most of the buying interest.
Realty and telecom stocks, on the other hand, witnessed selling pressure.
At 8:00 am today, the SGX Nifty was trading up by 60 points, or 0.4% higher at 15,475 levels. Indian share markets are headed for a positive opening today following the positive trend on SGX Nifty.
Gold prices for the latest contract on MCX were trading down by 0.3% at Rs 48,630 per 10 grams at the time of closing stock market hours yesterday.
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Among the buzzing stocks today will be TCS.
Tata Consultancy Services (TCS) announced that it has partnered with LACChain, an initiative led by IDB Lab, the innovation laboratory of the Inter-American Development Bank Group, to drive the development of a blockchain ecosystem across Latin America and the Caribbean.
The LACChain alliance collaborates with technology partners and ecosystem actors to create blockchain platforms, standards, and marketplaces to innovate and co-create life-changing solutions for people who are vulnerable and affected by economic, social or environmental factors.
TCS will leverage its deep domain knowledge across industry verticals, technological expertise, and research and innovation to create a marketplace of blockchain solutions in the areas of healthcare, energy, education and financial services.
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The partners will focus on coming up with a range of solutions to address the urgent need of healthcare systems, such as decentralized vaccination distribution platforms and immunity passport for safe travel, which will also aid in reviving the economy and ensuring safe travel.
In the digital identity space, the partners will create blockchain solutions to enable collaboration between academics and companies to create a skills marketplace and revive the job market in the geography.
In the financial services field, it will address inefficiencies in payments and settlements to offer faster settlements and financial inclusion for every citizen. The solutions will also drive the adoption of renewable energy while reducing the cost per unit, creating an abundance of energy for the people.
Zydus Cadila share price will also be in focus today.
India's Zydus Cadila has sought regulatory approval for clinical trials of its antibody cocktail to treat mild Covid-19, as the country grapples with a shortage of medicines and vaccines needed to effectively tackle a devastating second wave of the pandemic.
The treatment candidate, ZRC-3308, was earlier shown to reduce lung damage during animal trials, the drug maker said, adding it was found to be safe and well-tolerated.
The therapy is a cocktail of two monoclonal antibodies, which mimic natural antibodies that the body generates to fight infection.
"At this juncture, there is a critical need to explore safer and more efficacious treatments to combat Covid-19," Zydus Cadila's Managing Director, Sharvil Patel, said in an exchange filing.
The company is seeking permission to conduct early-to late-stage human clinical trials from the Drugs Controller General of India, Zydus said.
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As per an article in The Economic Times, Adani Total Gas, Apollo Hospitals Enterprise, Cholamandalam Investment, NMDC, Honeywell Automation and Bank of Baroda are likely to be reclassified as large-caps from mid-caps in the upcoming semi-annual review by the Association of Mutual Funds in India (Amfi).
The article added that Abbott India, Hindustan Aeronautics, Alkem Laboratories, HPCL, PI Industries and Petronet LNG are likely to be reclassified to mid-caps from large-caps.
The reclassified list of large-cap, mid-cap and small-caps will be released by Amfi by the first week of July and will be effective for the July to December period.
Equity-oriented schemes focused on market-cap classification will have to re-align the schemes within one month.
The reclassification will also see IRFC, Macrotech Developers and Indigo Paints becoming new entrants to the mid-cap space.
In the small-cap space, Kalyan Jewellers, Anupam Rasayan, Laxmi Organic, Nazara Technologies, Home First Finance, RailTel Corporation, Craftsman Automation, MTAR Technologies, Suryoday Small Finance Bank and Barbeque Nation will make an entry.
Paytm, India's leading digital payments provider, is aiming to raise about Rs 218 bn in an initial public offering (IPO) late this year, according to a source familiar with the deal, in what could be the country's largest debut ever.
The startup, backed by investors including Berkshire Hathaway Inc., SoftBank Group Corp. and Ant Group Co., plans to list in India around November and its offering could coincide with the Diwali festival season.
Paytm, formally called as One 97 Communications, is targeting a valuation of around US$ 25 billion to US$ 30 billion.
If successful, Paytm's initial share sale would surpass Coal India offering, which raised more than Rs 150 bn in 2010 in the country's largest IPO so far.
Banks shortlisted to run the Paytm offering include Morgan Stanley, Citigroup Inc. and JPMorgan Chase & Co.
The process is expected to get rolling in late June or early July.
The public market debut will include a mix of new and existing shares to meet regulatory obligations in India. The country's regulations require that 10% of shares are floated within two years and 25% within five years.
How this pans out remains to be seen. Meanwhile, we will keep you updated on the latest news from this space.
And to know what's moving the Indian stock markets today, check out the most recent share market updates here.
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