Investors in Asian Markets React Negatively Due to Concerns Over Global Inflation Levels

The stock market opened on a muted note on Thursday morning, with the Sensex slipping over 30 points and the Nifty trading below the 22,600 mark. As of 9:31 AM, the S&P BSE Sensex was at 74,189.46, down almost 32 points, while the NSE Nifty50 touched 22,585.65, a decrease of over 10 points.

In other news, Grasim Industries reported a 15.5% increase in net profit in the fourth quarter of the fiscal year 2023-24, reaching Rs 2,721.81 crore compared to Rs 2,355.67 crore in the same period last year. The company also saw a 12.7% rise in revenue to Rs 37,727.13 crore in Q4FY24.

On the IPO front, Go Digit General Insurance Ltd made its market debut with a premium of over 5% against the issue price of Rs 272. The stock opened at Rs 281.10 on the BSE and later climbed to Rs 303. The company’s market valuation stood at Rs 26,869.44 crore.

Meanwhile, the forex market remained closed on Thursday in observance of Buddha Purnima.

In regulatory news, SEBI imposed fines totaling Rs 11.90 crore on 19 entities for their involvement in a pump and dump scheme related to shares of Superior Finlease Ltd. The regulator also banned these entities from the securities market for up to five years.

Overall, the stock market exhibited volatility in early trading on Thursday, with investors closely monitoring global economic developments and regulatory actions impacting the financial sector. Stay tuned for more updates on the business and financial front.