Sensex, Nifty Snap Four-Day Losing Streak Aided By ICICI Bank
Indian equity benchmarks snapped a four-losing streak in a volatile session, aided by gains in banking stocks.
The S&P BSE Sensex index rose 0.24% to 60,967.05. The NSE Nifty 50 Index added 0.06% to 18,125.40. Both the benchmarks slipped as much as 0.75% and rose over 0.75% in intraday trade.
The broader indexes underperformed their larger peers with both the S&P BSE MidCap index and the S&P BSE SmallCap indexes shedding over 1.6%. Barring S&P BSE Bankex and S&P BSE Finance, all the other 17 sectoral indexes compiled by BSE Ltd. declined, with the S&P BSE Realty index falling over 2.5%
The market breadth was skewed in favour of bears. About 1,044 stocks advanced, 2,312 declined and 174 remained unchanged.
JSW Steel Plans Colour-Coated Steel Mill In Kashmir
JSW Steel Ltd. will invest Rs 150 crore ($20 million) to set up 1,20,000 tonnes a year colour-coated steel mill at Pulwama in Kashmir, according to a statement from the company.
Home Minister Amit Shah presented land allocation papers to JSW Steel Chairman Sajjan Jindal.
Torrent Pharma Gains The Most In Five Months Ahead Of Reporting Q2 Numbers
Shares of Torrent Pharmaceuticals Ltd. rose over 5.2% in intraday trade, the most in five months, to Rs 3,124.85 apiece. The company is scheduled to report its earnings for the September quarter on Tuesday.
Trading volume was 15% above the 20-day average for this time of the day.
The company trades at 39 times its estimated earnings per share for the coming year.
Analysts have 15 'buy', seven 'hold' and seven 'sell' recommendations on the stock.
Realty Stocks Decline; NSE Nifty Realty Index Down Over 2%
Policybazaar, Paytm Among Seven Companies To Win SEBI Approval For IPOs
PB Fintech, the parent of Indian online insurance aggregator Policybazaar, and One 97 Communications Ltd. that operates Paytm have won SEBI's approval to launch IPOs, according to the latest update issued by the market regulator.
SEBI also approved planned IPOs of ESAF Small Finance Bank, Sapphire Foods, Anand Rathi Wealth, HP Adhesives and Tarsons Products