SBI had a bad day, sliding the most by 5.36%. Others that dragged the key indices down were M&M, Reliance Industries and L&T.
More than a dozen corporates, including big names such as Aditya Birla Group, M&M, L&T, as well as state-owned PFC, LIC and India Post, are likely to apply to the Reserve Bank for licence to open banks.
The Birlas are investing $100 million in the financial services business in fiscal beginning April 1.
L&T has denied the charge and said the delay was entirely due to a dispute between Cidco and the railways.
The largest financial institution, LIC, led the list of companies that paid up their advance tax this morning, with a spike in the amount to Rs 1,200 crore (Rs 12 billion) from Rs 1,070 crore (Rs 10.70 billion) a year ago, a senior income tax official said in New Delhi on Thursday.
An appreciating rupee, unabated buying by domestic institutional investors (DIIs) and encouraging earnings by blue-chips contributed to the uptrend
Clarifies over the raging media controversy over its intent to exit
Rahul Dravid said India will have to find someone who can amass 500-odd runs in the series like Cheteshwar Pujara did the last time around.
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In the Sensex pack, Vedanta rallied 3.20 per cent, followed by Tata Steel, M&M, Tata Motors, ONGC, Hindustan Unilever, Maruti, Hero MotoCorp, HDFC, Bajaj Finance, SBI, HDFC Bank, HCL Tech, Coal India, Sun Pharma, Infosys, Reliance and Bharti Airtel, rising up to 2.69 per cent.
Covering-up of pending short positions on expiry of the July derivatives contracts and a strengthening rupee propped up the markets at high levels
The 30-share Sensex ended up 8 points at 27,508 and the 50-share Nifty closed 1 point higher at 8,284.
In the mid-tier space, clients with weak balance sheets are likely to ask for price revision apart from delay in payment.
Investor sentiment got a big push after Brent crude, the international benchmark, dropped below the USD 73-mark to quote at a seven-month low of USD 72.65 by falling 3.48 per cent, traders said.
Hindalco and BHEL among the top Sensex gainers
As Japan makes frantic efforts to deal with the nuclear radiation leaks from the Fukushima Daiichi nuclear power plant in the aftermath of earthquake and tsunami, Indian information technology firms have begun relocating the families of their Indian employees in the country.
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Adani Ports, HUL and L&T gained the most, while ICICI Bank, ONGC, GAIL and Tata Steel lost the most
Top gainers in the Sensex pack include Yes Bank, TCS, Infosys, IndusInd Bank, HCL Tech, Bharti Airtel, HDFC, Sun Pharma, Bajaj Auto, ICICI Bank, Vedanta, Hero MotoCorp, ITC, Bajaj Finance, M&M and Tata Steel, surging up to 3.24 per cent.
The top losers from the Sensex pack are ONGC, Coal India, Vedanta, Reliance Inds and L&T.
Sectoral index up 10% in past month, as market takes hope from higher order book, revenue and operating margins in September quarter.
Fund managers say the recent fall is not going to sustain.
All BSE sectoral indices ended in the red, with oil and gas, bankex, capital goods and finance falling up to 3.04 per cent.
After the hit of the pandemic, India Inc is now worried about the adverse impact of inflation and higher commodity prices on their revenues and margins. The inflation scare is the strongest among manufacturers of consumer goods such as automobiles, consumer durables, and fast-moving capital goods (FMCG). Companies across sectors fear they will not be able to pass on the hike in input costs to their consumers due to weak demand, which, in turn, would lead to a hit on margins and profitability in the forthcoming quarters.
India Inc gets about Rs 67,000 crore worth of fresh orders in the Sept quarter, a rise of 45% sequentially.
While for clients it has led to increased outsourcing, they are no more worried about which shore the service providers are executing the project in - offshore, onshore or near-shore - because remote working has become the standard norm in the industry, giving rise to a "no shore" kind of model.
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About a week ago, DGCA officials conducted surprise checks and grounded a Reliance Industries-owned 14-seater Falcon 900EX.
'Landmark developments herald the end of two decades of stagnation in the army's modernisation plans,' notes Brigadier Gurmeet Kanwal (retd).
Yes Bank and Tata Motors were the biggest losers in the Sensex pack, slumping 8 per cent.
Bucking the overall downtrend, shares of RIL rallied nearly 10 per cent, capping the Sensex loss to a large extent.
IT, FMCG and manufacturing sectors are less attractive to foreign portfolio investors
Govt wants domestic production so as to save foreign currency.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The overall breadth was neutral as 1,362 stocks advanced while 1,331 stocks advanced.
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Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Two major hydel projects being built by construction majors GVK and L&T have suffered severe damages in the floods which hit Uttarakhand last week.
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