Asian share markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.4% while the Hang Seng is down 0.5%. The Shanghai Composite is trading down by 0.6%. US stocks found their footing on Tuesday, helped by gains in the energy, technology and consumer discretionary sectors after a sharp sell-off a day earlier on spiraling global trade tensions.

Back home, India share markets opened the day on a flat note. The BSE Sensex is trading up by 18 points while the NSE Nifty is trading down by 16 points. The BSE Mid Cap index opened down by 0.1% while BSE Small Cap index flat

Sectoral indices have opened the day on a mixed note with energy stocks and PSU stocks witnessing maximum selling pressure. While healthcare stocks & IT stocks opened the day in green. The rupee is trading at 68.17 to the US$.

In the news from the bank sector. As per an article in a leading financial daily, IndusInd Bank Ltd has signed a share purchase agreement with Infrastructure Leasing and Financial Services Limited, (IL&FS) and other minority shareholders to acquire 100% of IL&FS Securities Services Limited, (ISSL), a subsidiary of IL&FS.

The bank has received Reserve Bank of India’s approval for the proposed transaction.

ISSL, incorporated in July 2006, is a capital markets intermediary for professional clearing, depository and custodial services.

It services both retail and institutional clients, including over 1,000 brokers, foreign portfolio investors and foreign institutional investors.

IndusInd Bank share price opened the day up by 0.3%. Reportedly, the proposed transaction is subject to regulatory approvals. Further, the acquisition aligns well with the bank’s strategy of focusing on differentiated businesses with strong domain leadership.

Meanwhile, according to EY India IPO Readiness Survey Report, globally, Indian exchanges recorded the highest IPO activity as the country saw 90 IPO launches that raised US$3.9 billion in the first half of this year.