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.
IndusInd Bank, Kotak Bank, ICICI Bank, Sun Pharma, Bajaj Finance and Ultratech Cement were prominent gainers. NSE Nifty rose 176.65 points to 14,867.35.
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.
The broader Nifty declined by 73.90 points, or 0.71 per cent, to end at 10,378.40.
So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
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.
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.
The 50-share NSE Nifty ended up 37.05 points, or 0.36 per cent, at 10,397.45 points
Independent market analyst Ambareesh Baliga points out the red flags that retail investors should not have ignored and lists three scenarios -two of these scenarios offer a glimmer of hope to retail shareholders of Yes Bank - that could play out in the coming days.
Budget this year has allowed PSBs to bring down govt stake to 51%
Since the beginning of 2020, i-bankers have collected nearly Rs 1,800 crore by way of IPO fees. Interestingly, the India fees this year form just 1 per cent of the global fee pool of $13.7 billion from IPOs.
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 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.
Covering-up of pending short positions on expiry of the July derivatives contracts and a strengthening rupee propped up the markets at high levels
Telecom, metal and healthcare came as dampeners.
The Budget came in a period when good news was otherwise scarce.
There were more than three losers against every gainer on BSE
In the last two months, these stocks have lost nearly a quarter of their market cap.
'If the RBI blesses us with a banking licence, we would like to launch a successful bank.'
'SBI is already too big. Too big to fail.' 'It already is a moral hazard. What will it do with 20,000 branches that it cannot do with 14,000, especially in these days of online and mobile banking?'
M&M was the top gainer in the Sensex pack, soaring around 7 per cent, followed by Bajaj Finserv, Bharti Airtel, PowerGrid, Infosys and ICICI Bank. On the other hand, HUL, Kotak Bank, Bajaj Finance and ITC were among the laggards.
Observing that a look out circular (LOC) restricts a person's free movement and the right to travel, the Calcutta high court has said it should be issued only in exceptional circumstances.
Check out what you can do in the stock market today.
The market breadth, indicating the overall health of the market, was positive
The 50-share Nifty scaled a high of 10,207.90 intra-day but succumbed to profit-booking to finish at 10,184.15, up 53.50 points
The market rally was driven by strong buying in telecom, banking, realty, metal, FMCG and PSU counters.
SBI Life Insurance is in the process of seeking permission from foreign regulators to sell its products to Non-Resident Indians through the overseas branches of the State Bank of India.
The banking sector's credibility is on thin ice. Unless the government takes strict steps, things could get worse.
Recent rates cuts by most banks may not have a significant impact on margins, say analysts.
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