Nifty Settles Below 10,500 On F&O Expiry Day

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Closing Bell

Indian equity benchmarks edged lower led by losses in State Bank of India, HDFC and Kotak Mahindra Bank as futures and options contracts for the month of December expired.

The S&P BSE Sensex fell 0.19 percent or 64 points to 33,848 and the NSE Nifty 50 Index fell 0.12 percent or 13 points to 10,478. For most part of the day, the Sensex and Nifty traded in narrow band.

Twelve out of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Bankex Index's 0.4 percent drop. On the other hand, the S&P BSE Metal Index was the top sectoral gainer, up 2 percent.

Nifty Settles Below 10,500 On F&O Expiry Day

Fab Four Stocks Of The Day

  • Reliance Communications: The Anil Ambai-led company rallied for third day in a row. The stock has surged more than 100 percent in three days after the company announced exit from SDR plan with zero write-off to lenders.
  • Kolte Patil Developers: The Pune-based real estate developer rose as much as 6.67 percent to Rs 384.50 after its Pune township Life Republic entered into Rs 193 crore agreement with KKR, the company said in a stock exchange notification.
  • Mahindra CIE Automotive: The auro component maker rose as much as 4.8 percent to Rs 262 after domestic brokerage Motilal Oswal initiated coverage on the stock with a 'buy' for target price of Rs Rs 297.
  • Quess Corp: Shares of the Bangalore-based professional service provider rose as much as 6.41 percent to Rs 1,152.60 after it acquired Master Staffing Solutions and 60 percent stake in Golden Star Facilities and Service.

Countdown

Market Check

  • Indian equity benchmarks were trading in a narrow range ahead of expiry of December futures and options contracts.
  • The S&P BSE Sensex was little changed at 33.918 and the NSE Nifty 50 Index was also little changed at 10,500. The broader markets were outperforming the benchmark indices as the S&P BSE MidCap Index rose 0.2 percent and the S&P BSE SmallCap Index advanced 0.5 percent.
  • Fifteen out of 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Metal Index's 2 percent gain. On the other hand, the S&P BSE Bankex was the top sectoral loser, down0.3 percent.
  • From the Nifty 50 basket of shares, 27 were advancing while 23 were declining.

Government Said to Renew Demand For Additional Dividend From RBI

Economic Affairs Secretary Subhash Garg has written to Reserve Bank of India Governor Urjit Patel to transfer additional dividend of Rs 13,140 crore, people with knowledge of the matter said.

The latest communication is a follow up to an earlier demand made in August, people said, asking not to be identified citing rules.