Sensex, Nifty Slide As Caution Prevails In F&O Expiry Week
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.