Share Market LIVE: SGX Nifty hints tepid start for Sensex, Nifty; HDFC and HDFC Bank merger gets BSE, NSE nod

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Share Market News Today | Sensex, Nifty, Share Prices LIVE: fty 50 index closed at 15,752 on Friday. India VIX, the volatility gauge of domestic markets is still above 21 levels. Entering the fresh trading week, SGX Nifty was down marginally, suggesting a tepid start to the day’s trade.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic stock markets ended the previous week flat with marginal gains as benchmark indices continued to trade volatile. S&P BSE Sensex settled at 52,907 while NSE Nifty 50 index closed at 15,752 on Friday. India VIX, the volatility gauge of domestic markets is still above 21 levels. Entering the fresh trading week, SGX Nifty was down marginally, suggesting a tepid start to the day’s trade. Global cues were mixed on Monday morning as Shanghai Composite, Hang Seng, KOSPI, and KOSDAQ trade with losses while Nikkei 225 and TOPIX were up in the green. Wall Street indices closed with gains on Friday. 

The mega HDFC and HDFC Bank merger has been given the green light by the stock exchanges. In a filing, HDFC Bank informed investors that it has received an observation letter with ‘no adverse observations’ from BSE Limited and an observation letter with ‘no objection’ from the National Stock Exchange of India Limited, both dated July 2, 2022. However, it must be noted that the merger is yet to get a nod from the Reserve Bank of India, Competition Commission of India, and the National Company Law Tribunal. Shareholders and creditors of both HDFC and HDFC Bank are also yet to give their consent for the merger. Earlier in April this year, India’s largest private sector lender HDFC Bank agreed to take over the biggest domestic mortgage lender in a deal valued at about $40 billion.

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