Share Market LIVE: SGX Nifty sits in red ahead of opening bell; go long only if Nifty breaches 16700

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Share Market News Today | Sensex, Nifty, Share Prices LIVE: Ahead of the second trading session of the week, SGX Nifty was trading with losses, suggesting a continuation of yesterday’s bearish momentum

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic stock markets kick-started the week in the grip of bears amid weak global cues. S&P BSE Sensex fell 306 points or 0.55% to settle at 55,766 on Monday while the NSE Nifty 50 index dropped 88.45 points or 0.53% to end at 16,631. Bank Nifty closed flat with a negative bias as volatility zoomed. Ahead of the second trading session of the week, SGX Nifty was trading with losses, suggesting a continuation of yesterday’s bearish momentum. Global cues were mixed after Wall Street indices moved in either direction on Monday. NASDAQ ended in red while Dow Jones and S&P 500 gained.

Life Insurance Corporation of India (LIC) and the Government of India may soon sell stakes in IDBI Bank. The government could float an expression of interest for the strategic disinvestment of the lender next month with an aim to conclude the transaction by March 2023, a senior official told FE. The magnitude of the sale is now known so far. Together, both LIC and the Government of India own a 94.72% stake in the bank, accordion to the shareholding pattern. As per the guidelines issued by regulatory bodies, LIC and the government can sell a maximum of 74% stake. IDBI Bank’s share price closed at Rs 35.2 apiece, down 3.96% from the previous close, on the BSE on Monday.

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