Share Market LIVE: Sensex flat, Nifty around 17400, resistance at 17500; M&M, Powergrid top gainers

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Indian equity markets opened higher with Nifty above 17400 on the back of positive global cues. The Sensex was up 301.55 points or 0.52% at 58443.60, and the Nifty was up 91 points or 0.52% at 17443.50. M&M, HDFC Life, Grasim Industries, HCL Technologies and HDFC were among major gainers on the Nifty, while losers were Power Grid Corp, Dr Reddy’s Lab, Shree Cements, Eicher Motors and Tata Motors. Global cues were strong as Wall Street ended sharply higher on Tuesday on the back of de-escalating tensions along the Russia-Ukraine border.

Shares of Vedant Fashions, the country’s largest company in men’s Indian wedding and celebration wear, will be listed on Exchanges today. The Vedant Fashions IPO had received a tepid response, being subscribed 2.57 times during February 4-8, largely supported by qualified institutional buyers whose reserved portion saw 7.49 times subscription. But demand at non-institutional investors and retail investors’ desk was muted, as their allotted quotas were subscribed 1.07 times and 39 per cent, respectively. The company mopped up Rs 3,149.19 crore through its public issue last week. The IPO was a complete offer for sale, which means the company will not receive issue proceeds.