INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Benchmark indices on Monday saw a positive opening but the further weakening of rupee hurt sentiment, dragging the indices into
At 9.40 am, the BSE Sensex was trading 148 points, or 0.41 per cent, lower at 35,661
The index was up over 50 points in early trade
Nifty50 fell 43 points or 0.40 per cent to 10,681
This index was trading above 10,750 in early trade.
A weakening of rupee hurts foreign inflows
Data showed foreign portfolio investors (FPIs) sold Rs 966 crore worth of domestic stocks on Friday
The domestic currency depreciated amid a rise in crude oil prices overseas
Among Sensex stocks, YES Bank dropped 3.57 per cent to Rs 210.90
TCS, HCL Tech and Coal India declined 1.54 per cent, 1.43 per cent and 1.37 per cent, respectively.
YES Bank shares took a hit after the RBI
warned the lender of regulatory action for disclosure of nil divergence report in violation of the confidentiality clause
YES Bank in a press release earlier this week had said the RBI has not found any divergence in the asset classification and provisioning
done by the lender during 2017-18.
Shares of the Anil Ambani-led Reliance Group jumped up to 10 per cent after the group reached an
understanding with more than 90 per cent of its lenders to avoid selling any stock pledged by the promoters until September 30 on account of
lower collateral cover or reduced margin due to the recent unprecedented fall in share prices.
NTPC, Vedanta, ONGC and Tata Steel advanced
2.42 per cent, 1.87 per cent, 1.74 per cent and 1.70 per cent, respectively.
