Indian stock market ended in Red in a third consecutive day. There was high selling pressure in Information Technology, metals and realty stocks. Some of the major events of the day are covered here in a precise way.
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| Commerce Insiders |
👉After a positive
start of the day it ended in low and at close the Sensex was down 303.35
points, or 0.56 percent, at 53,749.26, and the Nifty was down 99.40 points, or
0.62 percent, at 16,025.80.
👉Government imposed
restrictions on Export of Sugar from 01st June 2022. Reacting to the
development, sugar stocks corrected up to 9%.
Balrampur Chini dropped 7%, Dwarikesh sugar corrected up to 9%, Dhampur sugar
and Mawana Sugar was locked in 5% lower circuit, Shree Renuka Sugar dipped
nearly 6%.
👉The government has given a relief in the import of crude soya bean and crude sunflower oil. The government has taken a decision to import 20 lakh metric tonne of duty free crude soya bean oil.
👉The Cabinet
Committee on Economic Affairs (CCEA) has approved sale of its remaining 29.5
per cent stake in Hindustan Zinc Ltd. The government may sell its
shares in tranches through offer for sale (OFS), and the same will be
structured by the Department of Investment and Public Asset Management (DIPAM).
Shares of Hindustan Zinc surged 7 per cent on Wednesday after the Cabinet has
approved stake sale in the company.
👉SEBI simplified the
procedure and documentation requirements for issuance of duplicate securities
certificates to make the process more efficient and investor-friendly.
👉SEBI will auction three properties of Golden Life Agro India Ltd and two properties of Sunshine Agro Infra Ltd on 16th June, 2022 for a reserve price of Rs.11.5 Crores. These two companies raised funds from investors without complying with regulatory norms.
👉Phone Pe launched a feature on its platform that enables users to make investments in gold using the Unified Payments Interface (UPI). With the new addition, users will now be able to sign up for Systematic Investment Plans or SIPs in high purity 24K gold of a specified amount every month.
👉The ED has registered
a money laundering case against Congress MP Karti Chidambaram and others in the
alleged scam pertaining to the issuance of visa to 263 Chinese nationals in
2011 when his father P Chidambaram was the home minister. The case
pertains to allegations of Rs 50 lakh being paid as bribe to Karti and his
close associate S Bhaskararaman by a top executive of Vedanta group company
Talwandi Sabo Power Ltd. (TSPL), which was setting a power plant in Punjab.
👉India is not mood to remove ban on Export of Wheat Immediately.
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