Biden’s budget request to Congress, which is slated to be released Thursday, calls for a 25% minimum tax on billionaires, according to a White House official familiar with the proposal

Stock market live updates: As of 8:05 am, the SGX Nifty suggested a flat start to trade at 17,789 levels

Capital markets regulator Sebi on Wednesday imposed restrictions on the placement of bids, price and volume for the companies undertaking share buyback through the stock exchange route.
Under the restrictions, a company will not be able to purchase more than 25 per cent of the average daily trading volume (in value) of its shares in the 10 trading days preceding the day in which such purchases are made, Sebi said in a circular.
Among others, the company will not place bids in the pre-open market, first 30 minutes and the last 30 minutes of the regular trading session and the firm’s purchase order price should be within the range of 1 per cent on either side from the last traded price.
Sebi asked companies as well as appointed brokers to ensure compliance with the provisions. The stock exchange will monitor their compliance and in case of any instance of such non-compliance will impose appropriate fines or other enforcement actions as deem fit.
Currently, for share buyback, compani

Benchmark Sensex and Nifty closed higher for a third session in a row on Wednesday as fag-end buying in banking, financial and oil stocks helped the indices rebound from early lows amid a bearish trend in global equity markets.
Covering-up of short positions by bears supported a late recovery in stocks and helped wipe off losses, traders said. However, a weak rupee against major rivals overseas weighed on market sentiment and restricted gains, they added.
In a largely subdued session, the 30-share BSE Sensex ended 123.63 points or 0.21 per cent higher at 60,348.09 as 17 of its constituents gained and 13 declined. The barometer opened lower and stayed negative for most part of the trading session due to losses in Asian markets.
Fag-end buying in select index heavyweights helped the index to pare all the losses and settle in the green. During the session, the index touched a high of 60,402.85.
The broader NSE Nifty settled higher by 42.95 points or 0.24 per cent at 17,754.40. Nifty

Definition of ‘virtual assets’ the same as under Income Tax Act, includes cryptocurrencies and NFTs