The Indian stock market is winessing selling pressure amid fears of Greece crisis. Selling pressure is seen in Banking sector stocks.
The BSE-Sensex is trading down by 114 points (0.40%) and the NSE-Nifty is trading down by 19 points (0.23%). The BSE Mid Cap index is trading up by 38 points (0.34%), while the BSE Small Cap index is trading up by 59 points (0.53%). The rupee is trading at 63.52 to the US dollar. Gold and Silver are trading at Rs 26,285 per 10 grams & Rs 35,895 per kilogram respectively.
Stocks in Cement sector are trading on a positive note with JK Lakshmi Cement and Ambuja Cement leading the winners. ACC has suspended limestone mining operations at its Chaibasa facility in Jharkhand pending certain clearances from the state government. The company expects that the mining operations would resume shortly. The company has stated that the closure of mining operations has not had any material impact because the company is getting supplies of clinker from other sources. ACC stock is trading up by 0.44%.
Stocks in Banking sector are trading on a mixed note with State Bank Of India trading down by 0.61% and South Indian Bank trading up by 1.64%. The Foreign Investment Promotion Board (FIPB) has cleared Kotak Mahindra Bank's proposal to raise the foreign investment limit to 55%. The Reserve Bank of India (RBI) had barred overseas investment in it as foreign shareholding hit the maximum permissible threshold limit following its merger with ING Vysya Bank. Kotak Mahindra Bank is trading up by 1.22%