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Markets trade on a choppy note
Wed, 14 Oct 11:30 am

After opening the day flat, the benchmark Indian Indices continued to trade near the dotted line. Sectoral indices are trading mixed with stocks from the consumer durables and metal sector leading the gainers. On the other hand, IT and auto stocks are witnessing maximum selling pressure.

BSE-Sensex is trading down 15 points (down 0.05%) and the NSE-Nifty is trading down 11 points (down 0.1%). The S&P BSE Midcap index is trading down by 0.1% while the S&P BSE Smallcap index is trading up 0.5%. The rupee is trading at 65.14 to the US$.

Hindalco Industries, Vedanta Ltd and Hindustan Copper Ltd have warned the government about the imminent shutdown faced by the industry. As per an article in Economic Times, the surge in cheaper imports from Japan and Asean countries could also jeopardize the government led 'Make in India' initiative.

banking stocks are trading on a mixed note with Vijaya Bank and United Bank of India leading the gains. As per a leading financial daily, market leader State Bank of India (SBI) has received Reserve Bank of India's (RBI) in principle approval to set up an subsidiary that will manage the real estate of the bank. This new subsidiary will not house any real estate that owned by bank. As stated, its role would be to frame and implement a uniform policy for all the real estate properties owned or rented by the bank.

latest research update on the bank (subscription required). Presently the stock of SBI is trading up by 0.9% on the BSE.

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Oct 19, 2017 (Close)

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