Reason for rejection hasn't been stated; deal among seven rejected transactions.
French banking major BNP Paribas is planning to sell its domestic retail broking unit, Sharekhan, according to news reports on Tuesday. The reports even named leading financial institutions as possible suitors. "We would not be able to comment on the mentioned queries at this time," said a company spokesperson in response to a query from Business Standard seeking clarification on the news item.
Profits of domestic brokerages fell substantially in the quarter ended March 31, thanks to subdued participation of retail investors and continued increase in the share of the low-margin options segment in the overall market volume.
The S&P BSE Sensex shed 112 points to close at 27,167 and the Nifty50 dropped 35 points to finish at 8,336.
Stock markets, which are facing the heat of political uncertainty over the 2G spectrum scam, have come under pressure as investors are pulling out their money to invest in the primary market.
The last time these two indexes recorded a negative performance on a calendar year basis was in CY19.
Sentiments in global markets, movement of rupee against the dollar and crude oil prices will dictate near-term trend
TCS, Power Grid and Infosys are among the top S&P BSE Sensex gainers
The market capitalisation of BSE-listed companies surged to Rs 98,11,322 crore.
On Friday, shares of Tata Motors rose by 2.68 per cent and Tata Steel went up by 1.85 per cent on the Bombay Stock Exchange.
Following the sharp rally in stocks, investor wealth rose by Rs 1,39,948 crore to Rs 1,10,70,610 crore.
The 30-share index surged 499.79 points or 1.84 per cent to settle at 27,626.69.
From the 30-Sensex pack, 26 stocks ended with gains led by Tata Steel and ICICI Bank
But trading through the route still a minuscule portion of total turnover
Can the poll outcome be a trigger for a meaningful correction?
Technical analyst will not be able to give contrary recommendations regarding a company
The upcoming corporate results season and the approaching Union Budget kept investors on their toes
The broader Nifty also succumbed to the pressure before recovering to close lower by 6.35 points, or 0.07 per cent at 8,693.05
Shares of power, IT, tech, utilities and capital goods firmed up
Investors remained cautious in the face of the expiry of November series contracts in the derivatives segment, which also dampened sentiment.
Out of the 30-share Sensex pack, 21 ended lower and one remained unchanged
Progress of monsoon, investment trend by foreign investors and the movement of rupee against the dollar will also influence sentiment
After a strong run in the midcap and smallcap indices, which surged 46 per cent and 43 per cent, respectively, on the National Stock Exchange (NSE) during Samvat 2080, analysts suggest that the rally in these segments may pause to catch its breath in Samvat 2081.
Broader market underperformed the headline indices
Bank stocks rose sharply by up to 12 per cent after the government's move to withdraw 500 and 1,000 rupee notes from circulation as part of black money crack down
The BSE Mid-Cap index was currently up 0.81%.
Shares of Motilal Oswal Financial Services, Edelweiss Financial Services and IIFL Holdings have all doubled in the past one year against the Sensex's 23 per cent gain.
While Reliance put up a good show, NTPC nosedived on the BSE on Monday.
The BSE Midcap also cut all its intraday gains to shed 0.3% at close
Of the 30-share Sensex, 13 ended higher, while 17 led by Power Grid, Tata Steel, Bajaj Auto, Hero MotoCorp, NTPC, Tata Motors, Dr Reddy's, M&M, GAIL, Infosys and L&T finished lower, fell by up to 2.40 per cent
The Sensex has slid 18.5 per cent from its January 2015 peak.
Trading sentiment remained distinctly weak due to the cash crunch arising out of the government's move to demonetise Rs 500 and Rs 1,000 notes to flush out black money amid concerns about its impact on small and medium-sized businesses which largely run on cash.
The global turmoil in the banking sector has made analysts cautious, who advise that investors stay away from stocks of this sector till the overall sentiment improves. The recent trouble for the banking sector started with the collapse of US-based Silicon Valley Bank (SVB), Silvergate Capital and Signature Bank. On its part, Moody's Investors Service has also cut its outlook for the US banking system to 'negative' from 'stable', citing the run on deposits at these three banks that led to the collapse of these banking majors in less than a week.
On the BSE, 1,493 shares declined and 1,236 shares rose. A total of 177 shares were unchanged
At the close, the 50-share NSE Nifty was at 8,611.15, up 19.90 points, or 0.23 per cent, after moving between 8,637.15 and 8,555.20.
Investors engaged in profit booking in the recent gainers at attractive and higher valuations.
Bank shares were the top losers along with index heavyweight RIL
The S&P BSE Sensex ended the day at 28,226, up 85 points, while the Nifty50 settled at 8,734, up 18 points.
Experts said a future rate cut would depend on the inflation.
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