Mahindra & Mahindra, Jindal Stainless, Mankind Pharma, GAIL, Vodafone Idea

The stocks of Jindal Stainless Ltd., Dixon Technologies Ltd. and Mankind Pharma Ltd. will be in focus after it announced its quarterly earnings on Wednesday. In addition, Mahindra and Mahindra Ltd., GAIL Ltd. and Vodafone Idea Ltd. will be in the spotlight as it announces its quarterly results.

Promoters of Cipla Ltd. on Wednesday offloaded 2.51% stake worth Rs 2,750 crore through block deals. ICICI Prudential Mutual Fund and Aditya Birla Sun Life Mutual Fund bought 0.96% stake in the pharma giant.

Non-bank lenders must bolster governance and assurance functions against a multitude of risks emanating from the evolving financial landscape, Reserve Bank of India Deputy Governor Swaminathan J. said on Wednesday.

Wall Street traders sent stocks up and bond yields slumping as a slowdown in inflation reinforced bets the Federal Reserve will be able to start cutting interest rates as early as September, reported Bloomberg.

The S&P 500 index and Nasdaq 100 rose by 0.87% and 0.97%, respectively, as on 11:46 p.m. New York time. The Dow Jones Industrial Average gained by 0.60%.

Brent crude was trading 0.01% higher at $82.39 a barrel. Gold was higher by 1% at $2,381.74 an ounce.

Snapping a three-day winning streak, India’s benchmark indices ended lower, weighed by losses in shares of heavyweights HDFC Bank Ltd. and Tata Motors Ltd.

The NSE Nifty 50 ended 17.30 points, or 0.08%, lower at 22,200.55, and the S&P BSE Sensex closed 117.58 points, or 0.16%, down at 72,987.03. Intraday, the Nifty rose 0.36% to 22,297.55.

Overseas investors stayed net sellers on Wednesday for the tenth straight day. Foreign portfolio investors offloaded stocks worth Rs 2,832.8 crore, while domestic institutional investors stayed net buyers for the 17th day and mopped up equities worth Rs 3,788.4 crore, the NSE data showed.

The Indian rupee closed flat at Rs 83.50 against the US dollar.

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