Share market news today | Sensex, Nifty, LIVE Stock Quotes: Domestic stock markets began to stagnate this week, swinging between marginal gains and losses. The S&P BSE Sensex opened in the green but quickly slipped into the red, hovering around 52,900. The NSE Nifty 50 index was still above 15,700. Bank Nifty rose 0.50% with broader markets . India’s VIX rose 3%, touching 22 levels. IndusInd Bank stock was Sensex’s best performer, followed by Powergrid, Hindustan Unilever and Sun Pharma. Tata Steel was the big laggard, along with M&M and TCS.
The mega merger between HDFC and HDFC Bank has received the green light from the stock exchanges. In a filing, HDFC Bank informed investors that it had received a letter of observation without “adverse remarks” from BSE Limited and a letter of observation without “objection” from the National Stock Exchange of India Limited, both dated dated July 2, 2022. However, it should be noted that the merger has not yet been cleared by the Reserve Bank of India, the Competition Commission of India and the National Company Law Tribunal. Shareholders and creditors of HDFC and HDFC Bank have not yet agreed to the merger. Earlier in April this year, India’s largest private sector lender, HDFC Bank, agreed to take over the nation’s largest mortgage lender in a deal valued at around $40 billion.
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