INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Brisk selling on the financial and auto counters after the Reserve Bank of India hiked repo rate by 25 bps dragged the equity
indices lower on Wednesday.
The SP BSE Sensex shed 85 points to settle at 37,521, with Coal India (up 3 per cent) being the top gainer and
Vedanta (down nearly 2 per cent) the worst laggard
committee (MPC) of the Reserve Bank of India on Wednesday hiked repo rate by 25 basis points to 6.50 per cent in its third bimonthly money
This is the first time since October 2013 that the repo rate has been increased at consecutive two policy meetings
READ MOREJK Paper zooms post Q1 resultsPaper manufacturer JK Paper shot up 10.47 per cent to Rs 139.75 apiece on BSE after the company
reported a 58.27 per cent rise in standalone profit at Rs 95.14 crore for June quarter on better operating margins and improved performance
Stocks in the overbought zoneTechnical indicator RSI (relative strength index) showed seven stocks have entered the overbought zone
The list included Adani Power, Orient Refractories, Adani Green Energy, Mold-tek Technologies, Whirlpool of India, Excel Crop Care and
On the other hand, Stampede Capital slipped into the oversold territory
daily chart even as the index made higher high and higher low for the ninth session in a row
Experts said there could be a pause in the ongoing momentum with the index trading sideways in coming sessions.
Call/Put writingOn the
options front, maximum Put open interest stood at 11,000, followed by 11,200, while maximum Call OI was at 11,500 followed by 11,400
There was Put writing at 11,000 and 11,200 whereas Call writing was seen at 11,400 and 11,500 levels.
Spurt in open interestApollo Tyres
witnessed the biggest spike in open interest at 50.48 per cent, followed by Exide Industries (46.58 per cent), NMDC (42.64 per cent) and
Tata Global Beverages (41.40 per cent)
Cabinet clears LIC-IDBI deal:The Union Cabinet cleared the purchase of 51 per cent controlling stake in IDBI Bank by state-run insurer Life
Insurance Corporation (LIC), PTI reported quoting sources
LIC already has 7-7.5 per cent stake in the bank and will acquire the remaining for majority holding
Shares of IDBI Bank ended 5.61 per cent higher at Rs 62.15 apiece on BSE.
Insider tradesDebabrata Chakravorty, an employee of Lupin,
disposed of 3,500 equity shares via open market sale on Wednesday
Maharashtra Seamless, the promoter group of Sudha Apparels, acquired 55,000 equity shares.
