According to market sources, the grey market premium of Global Surfaces shares fell to around Rs 9-10 from Rs 15 earlier. If we consider the upper price band of Rs 140, the company shares are expected to list at a 7% premium over the issue price.

In a separate transaction, Small Cap World Fund Inc sold shares of Kajaria Ceramics for Rs 130 crore through an open market transaction.

>> For more such web stories click on the ET icon below

GameStop soared as much as 53%, heading for its biggest gain in two years, at the opening bell and it pulled other meme stocks along for the ride.

The Dow Jones Industrial Average rose 9.59 points, or 0.03%, at the open to 32,570.19.

About 50% of the offer will be available for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Bidders, and not less than 35% will be reserved for retail investors. The offer also includes a reservation for subscription by eligible employees.

The floor price for the OFS has been fixed at Rs 2,450 per share.

The short-term trend of Nifty remains positive, but the market is not gaining momentum through the hurdle. Unless the immediate resistance of 17,200 is taken out decisively on the upside, the chances of a sharp upmove could be less, said Nagaraj Shetti, Technical Research Analyst, HDFC Securities, adding that the immediate support is at 17,020 levels.

After Taiwan, India is currently the top weighted market of Mobius as it takes a bet on the manufacturing potential of the country. The ace investor said that he is looking to increase the allocation going forward.

The 30-share BSE Sensex closed up 139.91 points at 58214.59

So, while a rate hike is essential to bring inflation closer to the Fed’s 2% target, it would mean adding to the liquidity woes the banking system is currently experiencing.

In the Nifty pack, 32 stocks closed in the green, while 16 stocks ended in the red.

The NSE Nifty index closed 44.4 points up at 17151.9

The Nifty Realty index closed 0.1 per cent down at 394.3.

The Nifty Pharma index closed 1.04 per cent up at 11754.7.

The 30-share BSE Sensex closed up 139.91 points at 58214.59

The Nifty Auto index closed 0.49 per cent up at 12201.35.

The 30-share BSE Sensex closed up 139.91 points at 58214.59

GameStop's shares rose almost 40% in premarket trading after the video game retailer posted its first profitable quarter in two years, which helped encourage other stocks popular with retail traders. The company recorded an adjusted profit of 16 cents per share in Q4, compared to a 47 cent loss a year ago, thanks to cutting costs, including job reductions. Revenue declined 1.2% to $2.23bn in the quarter, and analysts said revenue headwinds persist in GameStop's core business, but added that the Q4 cost-cutting was encouraging. Meme stocks like GameStop and AMC rebounded after suffering in the high-interest rate regime of the past year.

Indian equities closed higher for the second consecutive day on Wednesday ahead of the crucial interest rate decision by the US Federal Reserve later today.

India ranks third in the world with a total of 187 billionaires. Mukesh Ambani, who sits over a wealth of $82 billion, has overtaken Gautam Adani to bag the richest Indian title. Ambani is the only Indian to feature in the top 10 of coveted global billionaires list.

The 30-share BSE Sensex closed up 139.91 points at 58214.59

Investment opportunities in India are difficult to predict due to volatile markets and supply chain disruption caused by the Russia-Ukraine conflict, according to Tarun Birani, Founder & CEO of TBNG Capital Advisors. Despite this, the banking, manufacturing, IT, pharma, and telecoms sectors are all showing promise, with Birani favouring a diversified investment approach led by a trusted fund manager.

The 30-share BSE Sensex closed up 139.91 points at 58214.59

Smart Beta portfolio is a strategy that ensures safety in the market by investing in good quality companies with strong earning power and high dividend yield. On the other hand, Alpha strategy involves generating outperformance over a specific index fund by constructing a portfolio with higher weightage on top-performing largecap stocks and midcap stocks with good earning growth potential. A Smart Beta portfolio must consist of stocks that are less volatile, have good earning power and high dividend yield.

DRS Dilip Roadlines, Chaman Lal Setia, Vardhman Special, RM Drip and Sprinkle and Arrow Greentech, hit their fresh 52-week highs during the day.

The Nifty Bank index closed 0.26 per cent up at 39999.05.

The NSE Nifty index closed 44.4 points up at 17151.9

Mark Mobius says that from a longer-term perspective, the potential is incredible. The market could go down 10%, 15%, even 20%, that really does not concern me. It could be an opportunity to buy more. So, it really depends on what stocks you are holding. If you are holding stocks with very little debt, with good return on capital, then you should do fine regardless of what happens to the market.

The Nifty IT index closed 0.19 per cent up at 28217.6.

BPCL, NTPC, Coal India Ltd, Adani Ports SEZ and Axis Bank were among the top losers on NSE in today's trade.

Angel One's shares will likely trade ex-dividend a day or two before the record date. When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment. An ex-dividend date also dictates which shareholders are eligible to receive the dividend payment

Given that SVB is a publicly-listed company, this sale spooked investors. The share price dropped by more than 65% in two days. That created a ripple effect and spread fear among the depositors, who came rushing to withdraw their funds. It prompted a massive liquidity crisis, thereby leading to the collapse.

The 30-share BSE benchmark Sensex surged 140 points or 0.24% to settle at 58,214. The broader NSE Nifty rose 44 points or 0.26% to end at 17,152.

India is also home to the richest aviation billionaires, with a wealth of $3.6 billion and $3.3 billion, Rakesh Gangwal and Rahul Bhatia and family of Indigo Airlines are the wealthiest aviation billionaires.

In the last two sessions, comex gold price fell more than 3 per cent from its recent peak of USD 2,010 per ounce as fear of banking crisis eased and investors trimmed their position before the Federal Reserve policy outcome later on Wednesday, Gandhi said.

According to market sources, the grey market premium (GMP) of Udayshivakumar Infra, which indicates the premium commanded by shares in the unlisted market, has dropped down to Rs 6-7.

"The investment aims to bolster the company's capital structure and increase production of energy-efficient radial tyres by more than 10 per cent -- from 32 million to over 35 million tyres a year by 2025," JK Tyre & Industries said.

Currently, the overall power tiller industry in India is around 60,000 units, and is expected to grow to 100,000 units by the year 2025. VST is the leader in the segment and holds a market share of over 65% in the country, the company said.

For a 1-year perspective, invest in largecaps such as the Nifty or a basket of stocks from the Nifty, while midcaps and smallcaps are better suited for a 3-5 year view, according to Nilesh Shah, CEO at Envision Capital. He believes that stocks bought during IPOs could become profitable in five years' time. While echoes of the 2008 financial crisis are being heard, he says history will not repeat itself. Rather, he sees a 2013-type scenario with a possible extended period of consolidation.

The dividend payout is crucial to Vedanta Resources amid concerns over its ability to meet upcoming debt maturities. Rating agencies have flagged its ability to raise funding in times of liquidity crunch and capital-starved market.