Benchmark indices were higher in pre-opening trade on Wednesday, continuing upside for third consecutive session.

10:00 am Listing: ICICI Securities started off the first day on a negative note due to tepid response to the issue and analysts’ doubts over consistency in financial performance going ahead.

The stock price debuted at Rs 453.80 on the National Stock Exchange, down 12.73 percent compared to issue price of Rs 520.

9:50 am Pre-Opening for ICICI Securities, Mishra Dhatu Nigam: ICICI Securities share price settled at Rs 435 in pre-opening trade on the NSE, down 16 percent from issue price of Rs 520.

State-owned steel company Mishra Dhatu Nigam share price settled at Rs 87 in pre-opening, down 3.3 percent from issue price of Rs 90.

9:45 am Monthly Sales Performance: JSW Steel has posted highest every monthly, quarterly and annual crude steel production.

Benchmark indices BSE Sensex and NSE’s Nifty 50 gained for a third straight session on Wednesday as the Reserve Bank of India kicked off its two-day policy meeting. Asian markets opened mixed as investors awaited China’s response to US tariffs. Overnight US stocks closed with gains as investors looked forward to earnings season. The Indian rupee was trading marginally higher in morning hours against US dollar. According to a Mint poll, the central bank will keep interest rates unchanged in the first monetary policy review of the current fiscal year, amid a gradual recovery in growth and easing inflation.

9.40 am IST

ICICI Bank shares fall after I-T notice to Deepak Kochhar
ICICI Bank Ltd shares fell 1.1% to Rs266.60. The Income Tax Department has issued a notice to Deepak Kochhar, husband of ICICI Bank MD and CEO Chanda Kochhar, in connection with its tax evasion probe in the Videocon bank loan case

9.37 am IST
Jet Airways shares gain over 1%
Jet Airways India Ltd shares rose 1.4% to Rs 622.45 after the company said it will buy 75 Boeing 737 max planes

9.35 am IST
Tata Motors shares rise nearly 3%
Tata Motors Ltd shares were up 2.8% at Rs352.80. Tata Sons chairman Natarajan Chandrasekaran has asked Tata Motors Ltd to create value for the group, especially from its domestic business, in line with his objective of making Tata group companies more accountable.

source: livemint.com