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Indian markets trade flat
Thu, 9 Jul 11:30 am

After opening in the green, Indian benchmark indices i.e. the Sensex and the Nifty lost ground and were trading flat owing to weak sentiment in global equities. Losses were largely seen in stocks from the Oil & Gas, IT and auto sectors.

The BSE Sensex is trading down 6 points and the NSE-Nifty is trading down 2 points. The BSE Mid Cap index is trading up 0.2% and the BSE Small Cap index is trading up 0.5%. The rupee is trading at 63.56 to the US dollar.

According to a leading financial daily, Yes Bank has successfully raised Rs 5.54 bn of Basel III compliant Tier II bonds. The issue was rated AA+ hyb by ICRA and AA+ by CARE. The issue closed on June 29, 2015 and witnessed strong demand from leading investors including several insurance companies and pension & provident funds, resulting in a total subscription of Rs 5.54 bn. The said bonds are listed on the Bombay Stock Exchange (BSE) and were raised at a coupon rate of 9.15%, with a tenor of 10 years. Yes Bank was trading up by 1.2% at the time of writing.

Stocks in the healthcare sector traded on an encouraging note in morning trade with Opto Circuits and Glenmark Pharma being the leading gainers. Shares of Lupin Ltd have surged 1% on the BSE after it was reported that foreign institutional investors (FIIs) have raised their stake in the company by 206 basis points to 36.75% at the end of June 2015 from 34.69% as on March 31, 2015. On the other hand, domestic institutional investors (DIIs) have decreased their stake in the company by 185 basis points to 6.82% at the end of June 2015 from 8.67% as on March 31, 2015. Non Institutions were holding 9.84% stake at the end of June 2015, down 17 basis points from 10.01% as on March 31, 2015, while corporate bodies were holding 1.1% stake at the end of June 2015, down 4 basis points from 1.14% as on March 31, 2015.

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