IndusInd Bank, Infosys, Maruti, Vedanta, Hero MotoCorp, Tata Motors, ONGC and RIL too fell up to 4.96 per cent.
Other losers included Maruti, Kotak Bank, Hero MotoCorp, Bajaj Auto, IndusInd Bank and Bajaj Finance, that shed up to 1.79 per cent.
Axis Bank was the top gainer in the Sensex pack, surging over 13 per cent, followed by ICICI Bank, IndusInd Bank, Maruti, TCS, Kotak Bank and Reliance Industries. On the other hand, Nestle India, HUL, Tech Mahindra and Sun Pharma ended in the red. NSE Nifty zoomed 273.95 points, or 3.03 per cent, to finish at 9,266.75.
Unlike any other national asset, which is typically sold to the highest bidder, the profile of the bidder is the most important criterion for a licence to bank, and even for acquiring more than 5 per cent stake, explains Tamal Bandyopadhyay.
Improvements in the labour market has triggered this sentiment.
About Rs 4,257 crore worth of bids have been received so far and the Centre hopes that retail investors - those investing up to Rs 2 lakh - will place bids worth at least Rs 750 crore.
V G Siddhartha's wife has the support of the employees. But the challenges ahead of her are tough.
The BSE benchmark Sensex rose 192 points to end at 39,250 on Sunday as investors built up fresh positions in the special Muhurat trading session to mark the beginning of Hindu Samvat year 2076.
Infosys was the top gainer in the Sensex pack, rallying around 7 per cent, followed by TCS, IndusInd Bank, ONGC, HDFC Bank and HCL Tech. On the other hand, ITC, Bajaj Finance, Kotak Bank and Sun Pharma finished in the red.
Barring oil and gas, all BSE sectoral indices finished in the green.
SBI is expected to mop up almost $202 million via the share sale.
Reliance Industries, which sold stake worth $21.7 billion in Jio Platforms, kept the league tables moving in spite of the pandemic.
SoftBank-backed Ola Electric took the wraps off its maiden e-scooter offerings -- Ola S1 and S1 Pro -- for a commercial launch on Sunday. With prices starting from Rs 99,999 (excluding state government incentives, registration fee, and insurance cost), the Bhavesh Aggarwal-founded firm said the e-scooters are designed and engineered in India for the world and will deliver the best scooter experience to the consumer. He suggested that after 2025, sale of petrol-powered two-wheelers should not be allowed.
Stressing that there is a need to strengthen the collective efforts to curb the spread of the virus, Union Health Secretary Rajesh Bhushan said ramping up testing and vaccination, healthcare infrastructure planning, following Covid-appropriate behaviour and effective clinical management are among the measures to be taken by these states.
Little-known retired swimmer Naoko Imoto will be a last-minute stand-in to receive the Olympic flame during a scaled back handover in Athens on Thursday, Tokyo 2020 organisers said. The Tokyo 2020 team had contacted Imoto, who lives in Greece, only hours before making the announcement on Wednesday evening in the Japanese capital.
Having successfully implemented the 25 per cent free-float norm for private companies, the Securities and Exchange Board of India now wants the government to pare its holdings in public-sector undertakings to below 75 per cent.
The rise in bond yields would make it difficult for banks to pass on rate cuts as except for retail loans, most of their legacy portfolio are linked to marginal cost based lending rate, which takes into consideration bond yields.
The NSE Nifty closed lower by 44.55 points, or 0.39 per cent, at 11,234.35. Intra-day, it shuttled between 11,332.05 and 11,210.90.
If the earnings in the first quarter of the current financial year are an indication, most banks, particularly those majority-owned by the government, have fared well, reveals Tamal Bandyopadhyay.
Fund managers have favoured stocks in the financial services and automobile spaces, which include IDFC, PNB, Maruti Suzuki and Hero MotoCorp.
Anup Roy and Krishna Kant on the challenges the public sector banks face in revitalising themselves
The MiG29K and MiG29KUB, the aircraft carrier's primary fighters, spent more time in the hangar than in the air, with fleet serviceability remaining below 50 per cent, reports Ajai Shukla.
The development comes at a time when Eveready is on the lookout for strategic investors, including a possible stake sale in its battery business.
Larsen & Toubro, country's biggest engineering and construction major, said its net profit dropped 12 per cent.
The Sensex opened with a positive gap of 102 points at 12,747
Noted scientist R A Mashelkar and yoga guru B K S Iyengar were on Saturday chosen for this year's Padma Vibhushan, the second highest civilian honour in India, while cine star Kamala Haasan, author Ruskin Bond and late former chief justice J S Verma were selected for the Padma Bhushan.
Markets end marginally higher supported by IT shares as Infosys's Q3FY14 results boosted sentiment.
Both indices are down nearly 9 per cent from their all-time highs in mid-January. A sharp reversal seems difficult this time as the peak impact of the virus is yet to play out.
Pharma was the top losing index amid worries about their earnings outlook with Lupin down over 4%
The 30-share benchmark index saw a mild recovery before ending at a new closing high of 25,583.69, up 3.48 points or 0.01 per cent.
The CM announced ex gratia of Rs 4 lakh each to the next of kins of those killed.
Covering-up of short positions by speculators ahead of September month expiry in the derivatives segment on Thursday also helped the market stage a smart rally.
The 30-share Sensex ended at 20,725 down by 42 points after topping the 21,000 mark while the 50-share Nifty ended down 14 points at 6,164 after hitting a high of 6,252 during the day.
It was a third consecutive day of equity market closing in red this week after a stellar rally seen earlier.
The biggest gainers on both the bourses were Reliance Industries, Infosys, NTPC, ONGC, HUL, PowerGrid, Asian Paints, ITC and HCL Tech, rising up to 2 per cent.
"We humbly request to you to alleviate some of the hardships that we and engineers have been facing, by ensuring that the new Jet management does not further delay our pending salaries dues at the earliest," NAG general secretary Tej Sood said in an e-mail to SBI chairman Rajnish Kumar.
Asian stock, bond and currency markets took another big hit after a fresh spike in US interest rates re-ignited concerns about capital flows from the region and forced investors to pare back their Asian portfolios.
Any reduction in devolution could aggravate the strained relations between the Centre and some opposition-ruled states on a number of issues, including CAA.
The move comes at a time when consumers are shunning high-quality coal, which has become costlier than prevailing market rates globally.
Shiv Sena chief Bal Thackeray was on Wednesday discharged from Lilavati Hospital in suburban Bandra, eight days after he was hospitalised.
