Nifty PSU Bank index was leading sectoral indices by rising 1% on news that the government would inject Rs48,200cr into 12 public banks to boost credit growth.
Equity benchmark indices were oscillating between gains and losses in Thursday's morning session ahead of the weekly expiry, tracking global peers. The Sensex rose 2 points to 35,758 levels, and the Nifty rose marginally to trade at 10,736 levels.
All sectoral indices were in the green on the NSE except Nifty IT. The Nifty PSU Bank index was leading sectoral indices, rising 1% on news that the government would inject Rs48,200cr into 12 public banks to boost credit growth.
The fund infusion will ensure that capital ratios for all state-run lenders are above the regulatory requirement and will help Allahabad Bank and Corporation Bank exit the Prompt Corrective Action plan, Rajeev Kumar, secretary at Department of Financial Services stated on social media on Wednesday.
Among stocks, Indiabulls Housing Finance, GAIL, ICICI Bank, Ultratech Cement, and Sun Pharmaceutical were the top gainers. Conversely, Infratel, Infosys, Bharti Airtel, HPCL, and Yes Bank lost the most.
Further, India VIX, a volatility index which measures the market’s expectation of volatility over the near term, fell 0.35%.
Incidentally, the market breadth was positive on the NSE with 935 shares advancing, 553 shares declining, while 553 shares remaining unchanged.
On the currency front, the Indian rupee maintained its upward movement and opened marginally higher at 71.07 against the dollar compared to its previous close of 71.11/$. The appreciation in the currency could be on the back of easing crude oil prices in global markets and a weak dollar relative to its major peers.
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| CAPITALSTARS FINANCIAL ADVISORY COMPANY |
All sectoral indices were in the green on the NSE except Nifty IT. The Nifty PSU Bank index was leading sectoral indices, rising 1% on news that the government would inject Rs48,200cr into 12 public banks to boost credit growth.
The fund infusion will ensure that capital ratios for all state-run lenders are above the regulatory requirement and will help Allahabad Bank and Corporation Bank exit the Prompt Corrective Action plan, Rajeev Kumar, secretary at Department of Financial Services stated on social media on Wednesday.
Among stocks, Indiabulls Housing Finance, GAIL, ICICI Bank, Ultratech Cement, and Sun Pharmaceutical were the top gainers. Conversely, Infratel, Infosys, Bharti Airtel, HPCL, and Yes Bank lost the most.
Further, India VIX, a volatility index which measures the market’s expectation of volatility over the near term, fell 0.35%.
Incidentally, the market breadth was positive on the NSE with 935 shares advancing, 553 shares declining, while 553 shares remaining unchanged.
On the currency front, the Indian rupee maintained its upward movement and opened marginally higher at 71.07 against the dollar compared to its previous close of 71.11/$. The appreciation in the currency could be on the back of easing crude oil prices in global markets and a weak dollar relative to its major peers.
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