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The benchmark equity indices Sensex and Nifty turned lower after opening on a positive note on Wednesday amid volatile market conditions as investors stayed cautious due to geopolitical concerns and fresh foreign fund outflows.
Among sectoral indices, pharma and oil & gas emerged as the major laggards.
The broader Nifty Smallcap 100 and Nifty Midcap 100 indices gained about 0.2 percent and 0.4 percent, respectively.
Stocks in News
Jaiprakash Power Ventures shares surged 20 percent on Wednesday after Adani Power acquired a 24 percent stake in the company. The stock hit its upper circuit limit of 20 percent at Rs 22.95 per share on the NSE.
Shares of Gillette India gained 5.82 percent on Wednesday after the company reported strong March quarter and full-year earnings. Gillette India reported a 21.4 percent year-on-year rise in net profit for the March quarter at Rs 192.5 crore, compared to Rs 158.6 crore in the year-ago period.
Stocks of Zee Entertainment Enterprises surged nearly 8 percent after the company said it was in discussions with FIFA to secure broadcasting and streaming rights for the 2026 FIFA World Cup in India.
Stocks of Life Insurance Corporation of India fell almost 3% lower on May 27 after a report said government plans to sell a stake of about 2% in the state-run insurer in late June or early July to institutional investors.