Mumbai. The market started with an increase on Wednesday, but during the trading day, profit-booking dominated the market and Sensex-Nifty closed in the red mark. The Sensex, the main index of the Bombay Stock Exchange (BSE), closed at 59,189.73 with a fall of 555.15 points, or 0.93 per cent. On the other hand, the Nifty of the National Stock Exchange (NSE) lost 193.50 points, or 1.09 percent, to close at 17,628.80.
A trading day earlier i.e. on Tuesday, the Indian stock markets saw a bullish trend. The Sensex closed at 59,744.88, up 445.56 points, or 0.75 per cent. At the same time, Nifty also closed at a high of 17,822.30 today with a gain of 131.00 points or 0.74 percent.
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Foreign investors can get approval to invest up to 20 percent in the country’s largest insurance company, Life Insurance Corporation (LIC). According to a Bloomberg report, the Indian government is considering a proposal to allow foreign investors to invest up to 20% in LIC. After approval of this proposal, foreign investors will also be able to invest in LIC’s IPO.
Swiggy launches $ 40 million ESOP liquidity program for employees
Food delivery platform Swiggy said on Wednesday that its employees will be able to sell their shares in the company twice in the next two years. This will increase transparency regarding Employee Stock Option (ESOP). Swiggy said the program will cost around $400 million at the company’s current valuation of $5.5 billion. The company has taken this decision due to reasons like recovery in business, rapid growth in grocery delivery and competition for talent in the technology sector.
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Orignally published at Tailored Stash
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