The Bombay Stock Exchange (BSE) stands in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

Sensex, Nifty Fall For Third Day As RIL, IndusInd Bank Drag

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Closing Bell: Sensex Drops Over 150 Points Dragged By RIL, IndusInd Bank

Indian equity benchmarks fell for third day in a row dragged by Reliance Industries, IndusInd Bank and Kotak Mahindra Bank.

The Sensex fell 0.5 percent or 181 points to 34,134 and the NSE Nifty 50 Index declined 0.57 percent or 58 points to 10,245.

For most part of the day, the benchmarks traded firmly higher but selling pressure intensified in last hour of the trade when IndusInd Bank cracked as much as 9.8 percent on concerns over its exposure to IL&FS.

Seventeen of 19 sector gauges compiled by BSE ended lower dragged by the S&P BSE Energy Index's 3 percent drop. On the other hand, the S&P BSE Power Index ended marginally higher.

The mid- and small-cap shares ended lower as the S&P BSE MidCap Index fell 0.7 percent and the S&P BSE SmallCap Index declined 2 percent.

SBI Approves Raising Rs 20,000 Crore Via Share Sale In FY19

State Bank of India has proposed to raise as much as Rs 20,000 crore in the year ending March 31 by selling shares via FPO/QIP/preferential allotment or rights issue, the bank said in an exchange filing.

  • The mode of sale will be decided based on approvals from holders, RBI, Sebi and government.
  • The board also approved issuing up to Rs 5,000 crore of tier-2 bonds in INR/USD to overseas on local investors in FY19.
  • Shares of the country's largest bank fell 0.4 percent to Rs 260.15.

Number Of Crorepatis Rise By 60% In India, Says CBDT

Number of taxpayers showing income above Rs 1 crore rises 60 percent in four years, Central Board of Direct Taxes said in a press release.

  • Growth of 80 percent in number of Income Tax returns filed in last four financial years: CBDT

Jubilant Life Sciences Q2 Profit Beats Estimates

Shares of the Noida-based drugmaker reported higher than anticipated net profit during July-September quarter. Shares of the company swung between gains and losses after the earnings announcement.

Key earnings highlights (Q2, YoY):

  • Net profit up 64 percent at Rs 210 crore.
  • Revenue up 38.2 percent at Rs 2,269.4 crore.
  • Ebitda up 47.2 percent at Rs 450 crore.
  • Margin at 19.8 percent versus 18.6 percent.

IndusInd Bank Drops Most In Nearly Two Years On Heavy Volumes

Shares of the Mumbai-based private sector lender fell as much as 9.47 percent, the most since November 2016, to Rs 1,427.35 on heavy volumes.

Trading volume was 1.3 times its 20-day average, according to data compiled by Bloomberg.

On the National Stock Exchange 44.60 lakh shares were traded according to information on its website.

Sensex, Nifty Fall For Third Day As RIL, IndusInd Bank Drag