Share Market LIVE: Sensex, Nifty may open flat; PLI scheme lures in manufacturing giants to India

India VIX still sits near 23 levels.
(Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Benchmark indices and broader markets fell on Tuesday, erasing all intra-day gains. S&P BSE Sensex closed at 48,253 while the Nifty 50 index was just below 14,500. On Wednesday morning, SGX Nifty was hinting at a flat start for domestic equities. Global cues were mixed after Wall Street witnessed a tech sell-off. NASDAQ closed deep in red, falling 1.88%, accompanied by a 0.67% fall in S&P 500. Dow Jones ended with gains. In Asia Hang Seng was up with gains while Chinese and Japanese markets remained closed.

The production linked incentive (PLI) scheme for IT hardware has attracted top players from across the globe. Computer major Dell and contract manufacturers Foxconn, Wistron and Flextronics are among some of the companies that have filed their applications under the scheme. PLI scheme, with an outlay of Rs 7,350 crore over four years, will provide financial incentives in the range of 4% to 1% on the net incremental sales over the base year (2019-20) for manufacturing laptops, tablets, all-in-one PCs and services. It is expected to lead to a total production of about Rs 1,60,000 crore.

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