Sensex falls over 150 points; banking, IT stocks drag
Business | June 12, 2019 10:45 ISTTop losers include Yes Bank, Bajaj Auto, Bharti Airtel, HCL Tech, HDFC twins, Kotak Bank, TCS and Infosys, shedding up to 2.55 per cent.
Top losers include Yes Bank, Bajaj Auto, Bharti Airtel, HCL Tech, HDFC twins, Kotak Bank, TCS and Infosys, shedding up to 2.55 per cent.
Markets regulator Sebi has slapped a total fine of Rs 42 lakh on 14 individuals for executing fraudulent trade in shares of Kushal Tradelink Ltd (KTL). The 14 individuals were fined Rs 3 lakh each, totalling Rs 42 lakh, according to a Sebi order.
Accordingly, the seven-phase long 2019 general elections will conclude on Sunday. Subsequently, exit polls will be released with the final results being announced on May 23.
The Securities and Exchange Board of India (Sebi) after observing large scale reversal of trades in stock options segment of the bourse conducted an investigation between April 2014 and September 2015.
The 30-share index was trading 141.80 points, or 0.38 per cent, higher at 37,893.97, while the 50-share NSE Nifty climbed 33.75 points, or 0.30 per cent, to 11,375.45.
Benchmarks rallied to fresh lifetime highs on Wednesday on persistent investor appetite for market heavyweight RIL, while the broader buying momentum got a fillip after IMF underlined India's role as a source of global growth
A strengthening rupee against the US dollar also bolstered the trading sentiment even as investors shifted their focus to corporate earnings from trade war worries.
"Though India may not get much of a direct impact, the collateral damage could be in the form of adverse impact on the overall sentiment."
Around 2 pm, the scrips of the bank declined by 7.17 per cent to trade at Rs 135.35 per share, less by Rs 10.45 from the previous close at Rs 145.80.
After the disclosure on Wednesday, the bank's share price slipped as much as 5.9 per cent in early trade ad continued the downward trend later in the day. At 13:45 hours IST, the stock price Punjab National Bank was quoting at Rs 150.15, down Rs 11.5
The 30-share Sensex crashed 839.91 points, or 2.34 per cent, to end the day at 35,066.75.
Gains from sale of stocks after one year were exempt from capital gains tax. Following the announcement, the benchmark BSE Sensex plunged over 400 points but recovered later.
The wider Nifty50 of the National Stock Exchange (NSE) closed above the 10,600-level for the first time at 10,616.85 points (at 3.30 pm) -- up 58 points and 0.55 per cent from its previous session's close.
Sensex climbed over 500 points to hit a life-time high of 33,117.33 in the opening trade, while Nifty scaled the historic 10,340.55 mark as bank stocks rallied after government's recapitalisation plan.
"As we move forward, we are talking of more equity. So, it needs to be regulated and managed in a transparent way," he said
Share markets opened on a flat note while bonds gained slightly despite the weaker-than-expected economic growth data released by the government, with investors still betting that conditions in the Indian economy will improve.
The key Indian equity indices closed at new highs yet again on Tuesday as sentiments remained upbeat on hopes of timely arrival of monsoon rains, and healthy buying was witnesses in healthcare, banking and automobile stocks.
The Cabinet Committee on Economic Affairs on Wednesday has given its green signal to go ahead with the listing of five public sector general insurance companies in the stock exchanges. Finance Minister Arun Jaitley said
Faced with a threat following reports of the government contemplating a complete ban on Foreign Direct Investment (FDI) into the tobacco sector, cigarette stocks today witnessed a massive selling spree, resulting in a fall of up to 17.4 per cent.
Mumbai: The benchmark BSE Sensex plunged 551 points and the NSE Nifty cracked the 8,361-mark on Monday amid concerns over stricter norms for participatory notes (P-notes) and slump in Chinese stock market.Markets plunged amid fears
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