Sensex Today | Share Market Live Updates: Sensex gains 400 pts, Nifty around 23,400 led by HDFC, Reliance, ICICI Bank

In the last five sessions, Reliance Power share price on the NSE has risen from ₹23.50 to ₹31.30 apiece, delivering around 33% return to its positional investors.

Shares of Heritage Foods fell another 5% in today’s trade to ₹627.30 apiece, extending their downward trend for the third consecutive session as investors engaged in profit booking.

Two former large corporate lenders, Yes Bank and IDFC First Bank, are making a comeback to their old business after a gap of almost four years. While both banks target strong corporate loan growth in the coming quarters, they also claim that this is not a shift in strategy. 

BL Kashyap and Sons Ltd has secured two significant orders from DLF City and Sattva Homes, totalling approximately ₹1,021 crores. This brings the company’s order book, excluding GST, to ₹3,545 crore.

TVS Supply Chain Solutions has entered into a new five-year strategic contract with Daimler Truck South East Asia Pte. Ltd. for Integrated Supply Chain Solutions (ISCS) services in Singapore. Under the deal, TVS SCS will create a robust logistics solution for distributing spare parts and related items, streamline supply chain operations, manage 8,000 SKUs and 65,000 order lines annually, and ensure smooth transportation across multiple modes.

Sensex was at 76,638.58, up 0.24% led by gains in HCL Tech, TCS, Infy. Asian Paints, Titam and L&T were the biggest laggards

Sensex was up 220 points at 76,677, and the Nifty was up 113 points  at 23,377.80.

Oil prices rose on Wednesday on upbeat global demand views from the US  Energy Information Administration and Opec.

Brent crude futures rose 11 cents, or 0.1%, to $82.04 a barrel, while U.S. West Texas Intermediate crude futures gained 18 cents, or 0.2%, to settle at $78.10.

Besides Union Bank, HCL Tech, IndiGo, SBI, Wipro, and Tube Investments, Balrampur Chini Mills, GMR Airports Infrastructure, Hindustan Copper, India Cements, SAIL, and ZEE are the six stocks on the NSE’s F&O ban list for Wednesday

The Indian economy, buoyed by strong domestic demand, a surge in investment and robust services activity, is projected to grow an average of 6.7% per fiscal year from 2024 through 2026, making South Asia the world’s fastest-growing region, the World Bank said on Tuesday.

In its latest Global Economic Prospects report, the World Bank said India will remain the fastest-growing large economy. According to the forecast, India is set to report 6.6%, 6.7% and 6.8% growth, respectively, in FY24, FY25 and FY26.

By comparison, global growth is projected to hold steady at 2.6% in 2024 before edging up to an average of 2.7% in 2025 and 2026, respectively.

The US Federal Reserve policy meeting began on 11 June, with widespread expectations that the central bank will keep interest rates unchanged. The Jerome Powell-led Federal Open Market Committee (FOMC) is anticipated to maintain its guidance of keeping rates elevated, adhering to the status quo in the current policy meeting. 

On Wednesday, the US will release its latest update on inflation at the consumer level, and the Federal Reserve will announce its latest interest rate decision. Additionally, the US will release its latest update on prices at the wholesale level on Thursday.

Wall Street saw a mixed close on Tuesday, with the S&P 500 and Nasdaq Composite reaching new record highs for the second day in a row. The subdued trading session occurred ahead of a crucial inflation report and the Federal Reserve’s latest interest rate policy decision, expected on Wednesday.

The S&P 500 gained 0.3%. The tech-heavy Nasdaq Composite rose 0.9%.

Asian markets were mixed as traders anticipated the Federal Reserve’s policy decision and upcoming US inflation data. The euro struggled to recover from a sell-off driven by European political uncertainty.

Markets in Hong Kong, Shanghai, and Sydney all declined, while Tokyo, Seoul, Bangkok, and Mumbai managed to edge up.