Stock Market Live: Nifty, Sensex Near Day's Low; ICICI Bank, HDFC Bank, L&T Drag

Shares of Park Medi World Ltd. listed at a discount on the National Stock Exchange, at a 1.98% dip from their IPO price of Rs 162. The company's stock debuted at Rs 158.80 apiece on the stock exchange. On the BSE, shares listed at Rs 160 apiece, marking a 1.23% dip.

Over 1.58 million shares of Bank of Baroda were traded via a block deal on Wednesday. The share of Bank of Baroda rose as much as 1.24% to Rs 286.35 apiece.

The scrip fell as much as 2.25% to Rs 1,779.50 apiece on Wednesday, the lowest level since Nov. 26. It pared gains to trade 2.13% lower at Rs 1,781.70 apiece, as of 10:30 a.m. This compares to a 0.18% decline in the NSE Nifty 50 Index.

It has fallen 16.57% in the last 12 months and 15.56% year-to-date. Total traded volume so far in the day stood at 0.35 times its 30-day average. The relative strength index was at 31.98.

The management of RBL Bank anticipated ECL impact to range between 10-15% of current net worth, it said in Citi Conference.

In the second call, they had guided for 6-8% of the net worth impact.

The shares of RBL Bank fell as much as 1.68% on Wednesday.

The government is not expected to take an immediate decision on a relief package for Vodafone Idea (Vi), with the Centre adopting a measured and cautious approach, according to government sources familiar with the matter.

Sources said the government is careful about taking any step that could have a direct bearing on the company’s valuation, particularly given its 49% equity stake in the telecom operator following the conversion of statutory dues into equity. Any policy move, sources indicated, is being assessed not just for its fiscal impact but also for potential market implications.