Share price of SBI Life Insurance Company declined 1.44% or Rs.11.50, quoting price at Rs.788.15-per share, through the mid-session after the company said the largest lender State Bank of India (SBI) will sell up to 3.50-Cr equity shares, in the company through offer for sale (OFS)
Sectoral indices are seen mixed. Nifty bank, Private Banks, Financial Service and Auto witness buying, while Media, IT, FMCG, Metal, Pharma, PSU bank and Realty witness some selling.
Two benchmark indices declined sharply in trade in the first trading session of the month with the Sensex slipping 361 points, as investors resorted to profit booking following weak concerns over the NBFC sector.
After revolving 770 points during the whole day, the Sensex closed 1.14% or 434 points, lower at 37,673.31. The NSE benchmark Nifty slipped 1.23% pr 139 points to close at 11,175.
The RBI had cut the key lending rate previously four times, ie on 7th February, 4th April, 6th June and 7th August this year, to infuse liquidity and boost economic growth.
Markets open lower on Monday. At 10.10am, the BSE benchmark Sensex is down by 180-pts at 37204-levels, while the NSE Nifty50 declined 56-pts at 11019-mark.
Bharat Petroleum Corp, Indian Oil Corp, Hindustan Unilever, Mahindra and Mahindra and Sun Pharma were among major Nifty index gainers, while IndusInd Bank, Tata Steel, Coal India, HCL Tech and Grasim led the losses.
The news in connection with the development has brought cheers to the investors and the Union Bank share price ended on the upper circuit on the BSE and NSE today.
The biggest loser among the NSE Nifty is Hero Motocorp that have tanked more than 6% followed by Tata Motors, Tata Steel, Axis Bank and Maruti Suzuki that recorded considerable falls between 4.62 to 4.98% in range.
Stocks to watch out for on Wednesday, 25-September include Adani Enterprises, RPP Infra Projects, InfoBeans Technologies and Kaveri Seed based on their latest company updates:
Auto stocks turned bearish with all 15 constituents in the Nifty Auto index declined with major falls in Motherson Sumi Sys, Tata Motors, Ashok Leyland and TVS Motors, Maruti and Eicher Motors, down between 4 to 7%
Shares in the Fast-moving consumer goods (FMCG) companies were picking up momentum during the mid-market trading session, in an otherwise weak market on Friday.
As per PTI reports, the delisting companies were namely Lanco Infratech Ltd, Amar Remedies Ltd, Moser-Baer India Ltd, Supreme Tex Mart Ltd, Hindustan Dorr-Oliver Ltd, Samtel Color Ltd, Servalakshmi Paper Ltd, LML Ltd, and Hanung Toys and Textiles Ltd.