Sensex, Nifty Snap Four-Day Winning Streak As Banks Drag
Closing Bell: Sensex, Nifty Snap Four Day Winning Streak
Indian equity benchmarks snapped their four-day winning streak dragged by banking heavyweights like ICICI Bank, Yes Bank and IndusInd Bank.
The S&P BSE Sensex fell 0.2 percent or 85 points to 38,252 and the NSE Nifty 50 index declined 0.2 percent 26 points to 11,557.
Benchmarks logged in their fifth weekly gain this week, their longest stretch of weekly gains in two months. The Sensex rose 0.75 percent and Nifty climbed 0.8 percent.
In today's trade, twelve out of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Bankex index's 0.8 percent drop. On the other hand, the S&P BSE Metal index was top gainer, up 1.9 percent.
Cadila Healthcare Rises After FDA Successfully Completes Inspection
Shares of the Ahmedabad-based drugmaker rose as much as 2.8 percent to Rs 402.50 after U.S. FDA successfully completed inspection of its biologics manufacturing facility (Zydus Biologics) located at Zydus Biotech Park in Ahmedabad, the company said in an exchange notification.
RCom Recovers After Holders Approve Monetising $300 Million Bonds
Shares of the Anil Ambani-led company recovered from intraday lows and rose as much as 5.6 percent to Rs 19.90 after holders of its $300 million bonds approved the monetisation and exchange offer, RCom said in an exchange filing.
Pursuant to the exchange offer, the bond holders will receive monetisation proceeds up to $118 million. The balance amount of $182 million will be exchanged with $55 million bonds to be issued by Global Cloud Xchange (GCX), a foreign subsidiary of Reliance Communications, added the filing.
European Stocks Advance; Dollar Slips Before Jackson Hole
Stocks in Europe rose on Friday alongside U.S. equity-index futures after a mixed session in Asia as trade negotiations with China drew a blank. The dollar slipped before an address from Federal Reserve Chairman Jerome Powell.
Steel Strips Wheels Rises On Bagging Order $3.5 Million Truck Steel Wheel Order
Shares of the Chandigarh-based wheel rim maker rose as much as 0.85 percent to Rs 1,205 after it bagged an export order worth $3.5 million from the U.S. aftermarket for steel truck wheels, Steel Strips Wheels said in an exchange notification.
The order is for supply of 76,000 truck wheels which will be manufactured at its Chennai plant, the notification added.