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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian stock markets tumble down 
(Thu, 11 Jun 01:30 pm) 
 
After opening the day in green, the Indian Indices gave up their early gains and are trading negatively in the post noon trading session. All sectoral indices are trading on a weak note with the banking and auto indices leading the losses.

The BSE-Sensex is trading down 272 points (down 1%) and the NSE-Nifty is trading down 90 points (down 1.1%). The BSE Mid Cap index is trading down by 0.8% while the BSE Small Cap index is trading lower by 0.6%. Gold prices, per 10 grams are trading at Rs 26,930 levels. Silver price, per kilogram, is trading at Rs 36,612 levels. Crude oil is trading in green with a gain of 0.8% or Rs 33 and is trading at Rs 3,920 per barrel. At the time of writing, the rupee stood at 63.92 to the US dollar.

Stocks in the banking sector are trading on a negative note with Yes Bank and Karnataka Bank witnessing maximum selling pressure. As per a leading financial daily, Life Insurance Corporation of India (LIC) has picked up an additional 2% stake in Yes Bank which is worth about Rs 7 bn at current market prices. The shares were bought between August 29, 2013 and June 8, 2015. This 83.91 lakh shares or a little over 2% of the paid up capital was bought through open market transaction. Prior to this, LIC was holding 6.31% stake in Yes Bank. Post acquisition the holding has increased to 8.36%. Currently, stock of Yes Bank is trading down by 2.6%.

ICICI Bank, India's largest private sector lender, has decided to raise Rs 500 bn through private placement of securities including bonds and non-convertible debentures (NCDs). This is half the amount of what the bank has planned to raise earlier. For this the bank is seeking the approval by shareholders for its fund raising plans at the AGM which is going to be held on June 29. The bank has already borrowed Rs 68 bn by issue of NCDs on a private placement basis since the earlier AGM. For the quarter ended March 31, 2015, the bank reported an increase in its net profit by 10.2% on a YoY (year on year) basis. Stock of ICICI Bank is trading down by 1.4%.

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May 26, 2017 09:13 AM

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