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Sell-off in banking stocks drag equity indices lower
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SME Times News Bureau | 18 Oct, 2017
A massive sell-off in banking sector stocks pulled the key Indian equity indices lower on Wednesday.
According
to market observers, heavy selling pressure in the banking, healthcare
and consumer durables stocks, along with low volumes and profit bookings
eroded investors' risk-taking appetite.
The 30-scrip Sensitive Index (Sensex) provisionally closed 24.81 points or 0.08 per cent lower during the day's trade.
Similarly,
the wider 50-scrip Nifty of the National Stock Exchange (NSE)
provisionally closed on a negative note. It inched down by 23.60 points
or 0.23 per cent to close at 10,210.85 points.
The Sensex of the
BSE, which opened at 32,518.56 points, provisionally closed at 32,584.35
points (at 3.30 p.m.), lower by 24.81 points or 0.08 per cent from
Tuesday's close at 32,609.16 points.
The Sensex touched a high of 32,670.32 points and a low of 32,462.85 points during the intra-day trade.
"The
NSE Nifty edged lower on Wednesday, retreating from record highs hit in
the previous three sessions after a rise in bad loans at Axis Bank
sparked concerns about the recovery of stressed assets in the country's
banking sector," Dhruv Desai, Director and Chief Operating Officer of
Tradebulls, told IANS.
"Axis Bank contributed to most of the
losses on the NSE index, and also led the losers on the NSE Bank index,
which shed about 1.4 per cent."
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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