Share Markets Live: Sensex, Nifty, Rupee Weak; Gujarat Gas Jumps On Morgan Stanley Boost

Shares of the Rakesh Jhunjhunwala-backed firm made a U-turn after it announced that it has signed a binding term sheet to acquire a majority stake in Publishme, a full-service games marketing and publishing agency based in Turkey and the Middle East region. This will be the company’s first acquisition since it went public in March.

Nazara will invest approximately Rs 20 crore for a 69.82% stake in Publishme, by way of primary and secondary transaction through its subsidiary, it said in a press release.

After the announcement, Nazara’s stock gained as much as 1.6%, paring a 1.6% opening drop. The shares of the gaming and sports media company have risen 50% since its March 30 listing.

The Indian rupee drops by the most in two months, tracking losses in regional currencies, after the Federal Reserve’s hawkish comments at Wednesday’s review. Bonds fall before the central bank’s 400b rupees debt purchases as part of its government securities acquisition program.

• USD/INR weakens as much as 0.7% to 73.8075, the most since April 19

• 10-year yields rose by 1bp to 6.05%; 5.63% 2026 yield up 3bps to 5.71%

• Fed has spooked the markets by talking about interest rate hikes instead of tapering, says Anil Kumar Bhansali, head of treasury at Finrex Treasury Advisors

  • USD/INR has now become buy-on dips with 73.30 a strong support. Importers will now buy any good dip while exporters can start covering near term around 73.80

Advanced Enzyme has about 3 million shares change hands in Mumbai, according to data compiled by Bloomberg.

• Shares snap two-day gain; trading about 0.7% lower, having fallen as much as 5.9% to their lowest intraday level since April 28

• Trading volume >7.8x 3-month full-day average

• Buyers, sellers not immediately known

ITI Ltd. rose 7.1%. Trading volume was five times the average for this time of day.

• The stock was the best performer among its peers.

• Trading volume was 318,238 shares, five times the 20-day average of 68,885 shares for this time of day.

• Stock advanced 57% in the past 52 weeks, compared with a 154% increase for the company's Bloomberg peers. The Sensex gained 56%.