Consumer Durables, FMCG, IT, Auto, Metal & PSU, Banks, Capital Goods, Oil, Realty & Healthcare have ended negative in varying degrees while no sector has ended in positive territory.
Equity benchmarks Sensex and Nifty ended marginally lower on Tuesday as investors booked profits at higher levels amid a mixed trend in global markets.
Days after the Parliament repealed the IDBI Act, Industrial Development Bank of India is believed to have decided to remain a "stand-alone" entity initially and a merger with a big PSU bank may be considered later.
The 30-share Sensex surged 435.16 points, or 1.33 per cent -- its biggest single session gain since May 25
P V Subramanyam clears some misconceptions about debt funds.
The Sena faction alleged corruption cases against BJP leaders are being suppressed.
Since March 31, 2022, the PSBs' market cap has risen 43.7 per cent, from Rs. 7.29 trillion to Rs. 10.47 trillion. It's time for the government, the majority owner of public sector banks, to reap the benefit of the rally in bank stocks, recommends Tamal Bandyopadhyay.
Laggards yet, a number of smaller PSBs in the category have balance sheets which do not give much comfort.
The Nifty ended at 5799, down 66 points. As the day wore out, the banking sector actually saw buying interest at lower levels. The realty space remained in doldrums though.
From the 30-share pack, 18 stocks ended with gains led by SBI, which surged 27.58 per cent, and ICICI Bank 14.69 per cent.
The business intelligence applications in India is poised to grow to $70 million by 2007, registering a compounded annual growth of 29.4 per cent, a report by Frost and Sullivan, a global growth consulting company said.
HCL Tech was the top loser in the Sensex pack, skidding over 4 per cent, followed by Tech Mahindra Dr Reddy's, Wipro, TCS, Titan and Infosys. NSE Nifty plunged 167.80 points to 17,110.15.
Indian Bank chairperson Ranjana Kumar, who turned around the ailing PSU bank last fiscal, is slated to take over as head of National Bank for Agriculture and Rural Development within a week.
The forthcoming public offers of CIL and SAIL can be a roaring success if the debut history of 28 PSUs since 2003 is any indication, as 94 per cent of these public sector companies listed with a premium of at least 10 per cent on the bourses.
M&M was the top loser in the Sensex pack, shedding over 2 per cent, followed by Dr Reddy's Bharti Airtel, Tech Mahindra, HUL, ICICI Bank and Infosys. NSE Nifty dropped 64.80 points to 14,341.35.
The market has remained in a mixed state of mind, has come off its intra-day high and has finally ended the day in negative territory.
In a move that could provide succour to existing customers of troubled Global Trust Bank, its acquirer Oriental Bank of Commerce said on Monday that lending rates would eventually come down in line with the PSU bank.
Budget this year has allowed PSBs to bring down govt stake to 51%
'It really doesn't matter that investors getting allotments sell their IPO stock holdings on listing day because a new set of investors are entering.' 'This explains the continued rise in stock prices even after the first day of listing.'
The 50-share NSE Nifty ended up 37.05 points, or 0.36 per cent, at 10,397.45 points
The Budget came in a period when good news was otherwise scarce.
The buyout will cost LIC about Rs 100 billion, based on the Rs 248 billion market capitalisation of IDBI Bank as on Friday, and assuming it acquires a 40 per cent equity stake from the government.
In the last two months, these stocks have lost nearly a quarter of their market cap.
The broader Nifty declined by 73.90 points, or 0.71 per cent, to end at 10,378.40.
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There were more than three losers against every gainer on BSE
