Village Voice News

Nifty reaches a record high, Sensex climbs, while Zee shares fall 10%

<p>Wednesday’s modest advances in benchmark stock market indexes were driven by an increase in public sector bank equities and a spike in Hindalco Industries on the announcement of its US subsidiary’s Wall Street debut.</p>
<p><img decoding=”async” class=”alignnone wp-image-427277″ src=”” alt=” nifty reaches a record high sensex climbs while zee shares fall 10 10 stock market” width=”993″ height=”558″ title=”Nifty reaches a record high, Sensex climbs, while Zee shares fall 10% 9″ srcset=” 690w,×220.jpg 390w,×84.jpg 150w” sizes=”(max-width: 993px) 100vw, 993px” /></p>
<p>But a sustained drop in information technology stocks muted the excitement.</p>
<p>The NSE Nifty 50 index hit a new high, rising 0.23 percent to 22,248.85, before leveling out at 22,223.50, up a less significant 0.12 percent. In a same vein, at 9:20 a.m. IST, the S&P BSE Sensex had increased by 0.10 percent to 73,128.13.</p>
<p>For the third session in a row, the Nifty has hit fresh all-time highs today, demonstrating the market’s continued resilience.</p>
<p>In pre-market trade on Wednesday, Zee Entertainment Enterprises Limited (ZEEL) shares dropped by 10%. This fall came after a media allegation that the Securities and Exchange Board of India (Sebi) discovered an accounting mistake in the company’s records of over 20 billion rupees ($241.3 million).</p>
<p>The parent firm of the digital payment network Paytm, One 97 Communications Limited, had a 5% increase in its shares, which reached the upper circuit on Wednesday. Paytm shares increased by 5% for the fourth day in a row on the Bombay Stock Exchange (BSE), where they were trading at Rs 395.05 at 9:20 am.</p>