Marketswere highly volatile on Thursday.
The S&P BSE Sensex was trading at 37, 878 in the afternoon deals. Bharti Airtel, up 5 per cent, was the top gainers, followed by Reliance Industries (up 2. (per cent), and HUL (0. 85 per cent). On the downside, YES Bank was trading over 4 per cent lower, followed by ICICI Bank and Tata Motors, down over 3 per cent each.
On NSE, the broader Nifty 50 index was at 11, 227 – mark.
Sectorally, all the indices were in the red. Nifty Bank index declined by 700 points to trade at 28, 088 level in the afternoon trade. Nifty PSU Bank index (2.7 per cent), Nifty Private Bank index (down 2. 34 per cent), and Nifty Financial services index (down 2 per cent) were other losers.
The broadermarketswere performing better than the benchmarks. The S&P BSE mid-cap index was trading 0. (per cent lower at 13, 753 level, while the S&P BSE small-cap index was down 0. 45 per cent at 12, 739 level.
Despite announcing a share buyback plan, Indiabulls Housing Finance plunged 20 per cent on the BSE to hit an over five-year low of Rs 193 on Thursday after the Reserve Bank of India (RBI) on Wednesday rejected its proposed amalgamation with Lakshmi Vilas Bank (LVB). The stock of housing finance company was trading at its lowest level since March 2014.READ MORE
Shares of Bharti Airtel hit a 52 – week high of Rs 385, up 7 per cent on the BSE on Thursday, after Reliance Jio (RJio) on Wednesday said it would charge 6 paise per minute on off-net calls. The move, analysts believe, would be viewed as sentimentally positive for telecom companies.READ MORE
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