Share Market News: Vikas Lifecare Shares in Focus in Bearish Market | Check Key Details Here

Wall Street ended mostly lower on Thursday. Global oil benchmark Brent crude climbed 2.27 per cent to USD 89.09 a barrel.

Written by: India.com News Desk

Published: April 19, 2024, 10:53 AM IST

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Equity benchmark indices tanked in early trade on Friday, taking their losing streak to the fifth day running, as escalating tensions in the Middle East weighed heavily on investors’ sentiment. The 30-share BSE Sensex tanked 672.53 points to 71,816.46. The NSE Nifty dropped 218.2 points to 21,777.65. From the Sensex basket, Infosys declined over 2 per cent after the company’s revenue growth guidance for FY25 failed to meet market expectations.

Meanwhile, shares of homegrown recycling firm Vikas Lifecare Ltd (VLL) are in focus as the company has approved an allotment of 5,61,00,000 new equity shares to both promoters and non-promoter/public category investors.

“Considered and approved the allotment of equity shares on conversion of 5,61,00,000 warrants into 5,61,00,000 equity shares of face value of Re. 1/- each at an issue price of Rs. 4/- each (including a premium of Rs. 3/- each), to “Promoters” and “Non-Promoters, Public Category”, on preferential basis, upon receipt of balance amount aggregating to Rs. 16,83,00,000/- (Rupees Sixteen Crores and Eighty Three Lakhs Only) at the rate of Rs. 3/- (Rupees Three only) per warrant (being 75% of the issue price per warrant),” the company said in an exchange filing.

Meanwhile in Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were quoting in the negative territory. Wall Street ended mostly lower on Thursday. Global oil benchmark Brent crude climbed 2.27 per cent to USD 89.09 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,260.33 crore on Thursday, according to exchange data. “Reports of the feared escalation of the Iran-Israel tensions have spooked the markets. Distinct weakness in Asian markets and sharp cuts in US futures reflect heightened nervousness in equity markets,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Meanwhile, the 2024 Lok Sabha polls kicked off on Friday with the beginning of polling for the first phase.

The BSE benchmark tanked 454.69 points or 0.62 per cent to settle at 72,488.99 on Thursday. The NSE Nifty declined 152.05 points or 0.69 per cent to 21,995.85.