Bloomberg | Quint is a multiplatform, Indian business and financial news company. We combine Bloomberg’s global leadership in business and financial news and data, with Quintillion Media’s deep expertise in the Indian market and digital news delivery, to provide high quality business news, insights and trends for India’s sophisticated audiences.
Closing Bell: Sensex, Nifty End Lower As PSU Banks, Autos Drag
Indian equity benchmarks ended lower ahead of the monthly derivatives expiry later this week.
The S&P BSE Sensex Index ended 0.6 percent lower at 35,470.35 and the NSE Nifty 50 Index ended at 10,762.45, down 0.6 percent.
The market breadth was tilted in favour of sellers. Ten out of 11 sectoral gauges compiled by NSE fell, led by NSE Nifty PSU Bank Index's 2.1 percent decline. On the flipside, NSE Nifty IT Index was the only sectoral gainer, up 0.6 percent.
PNB Housing Finance Clarifies On Stake Sale Report, Shares Rally
PNB Housing Finance Ltd. today clarified that the company is not aware of HDFC, Kotak Mahindra Bank eyeing to buy controlling stake in the company, according to its stock exchange notification.
Earlier today, Economic Times reported that HDFC Ltd. and Kotak Mahindra Bank Ltd. are competing for controlling stake in the company, citing people aware of the matter.
Shares of PNB Housing Finance rose as much as 14.1 percent, the most in eight months, to Rs 1,224.
From Bloomberg: Nifty May Rally Amid Put Selling Before Expiry, Says ICICI Securities
Recent selling in NSE Nifty 50 Index’s 10,800 puts indicate upsides can be expected if the measure holds above 10,800 before Thursday’s expiry, Bloomberg reported quoting ICICI Securities research note, adding that Nifty is likely to settle above 10,750 for June series expiry.
“Unabated foreign investor selling, depreciating currency were the major triggers behind broader market weakness,” the report stated further, Bloomberg said.
Exide Industries To Acquire Tudor India's Gujarat Plant, Shares Gain
Exide Industries today said that it plans to acquire Tudor India's Gujarat plant, according to its stock exchange filing.
Shares of the battery manufacturer rose 0.2 percent to Rs 251.80 as of 1:30 p.m. The stock rose 1.1 percent intraday.
Stocks Moving On Heavy Volumes
PowerLunch: Crude Falls After Ambiguous OPEC Pact;Idea-Vodafone Merger May Miss Deadline
KRBL Slides After Report On Former Director's Role In AgustaWestland Case
Hot Money: Bajaj Finance At Lifetime High. Will The Rally Continue?
Vedanta Gains The Most In Over Two Months
From Bloomberg: A Bond-Trading Secret That Helped One Indian Bank Beat Its Peers
Idea Cellular Falls On Reports Of Possible Merger Delay
The F&O Show: Decoding Trading Strategies
City Union Bank Gains On Bonus Announcement
Bajaj Electricals Expects Up To 20% Growth In Consumer Products
Symphony Gains After Stake Acquisition
IndianOpen: Stocks To Watch Out For In Trade
Tech Mahindra Gains After Receiving Merger Approval
Emkay Global Expects FY19 Earnings Growth Around 10-12%
Vakrangee Jumps After Block Deals
Biocon Rises After Bengaluru Facility Clears Regulatory Inspection
Opening Bell: Sensex, Nifty Swing In Opening Trade
Money Market Update: Rupee Weakens After Three-Day Rally