Domestic equity benchmarks extended early losses and hit fresh intraday low in morning trade. At 10:28 IST, the barometer index, the S&P BSE Sensex, was down 299.50 points or 0.65% to 45,953.96. The Nifty 50 index lost 86.15 points or 0.64% at 13,472.
In the broader market, the S&P BSE Mid-Cap index slipped 0.55% while the S&P BSE Small-Cap index shed 0.43%.
The market breadth was weak. On the BSE, 985 shares rose and 1510 shares fell. A total of 132 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 2,264.38 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,721.11 crore in the Indian equity market on 14 December, provisional data showed.
Economy:
India's retail inflation declined to 6.93% in the month of November even though it remained above the Reserve Bank of India's (RBI) upper margin of 6 per cent, data released by the Ministry of Statistics & Programme Implementation (MoSPI) showed. The retail inflation, which is measured by the Consumer Price Index (CPI), for the month of October was 7.61%.
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Coronavirus Update:
Total COVID-19 confirmed cases worldwide stood at 72,824,936 with 1,620,490 deaths. India reported 339,820 active cases of COVID-19 infection and 143,709 deaths while 9,422,636 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Buzzing Index:
The Nifty PSU Bank index slipped 2.78% to 1,808.95. The index had gained 2.78% in the past two sessions.
Canara Bank (down 8.12%), Punjab National Bank (down 3.52%), Indian Overseas Bank (down 3.46%), Jammu and Kashmir Bank (down 2.24%), Bank of India (down 1.99%), Bank of Baroda (down 1.94%), Union Bank of India (down 1.92%), SBI (down 1.82%), CBI (down 1.67%) and UCO Bank (down 1.49%) declined.
Indian Bank slipped 4.38% to Rs 91.70. The bank said that it had further raised Tier 1 capital fund through private placement of Basel III compliant AT 1 Perpetual Bonds aggregating to Rs 560 crore at a coupon of 8.44% per annum payable annually.
Bank of Maharashtra declined 1.67% to Rs 14.09. The bank has successfully a raised capital of Rs 200.70 crore through private placement of 7.75% Basel-III compliant unsecured redeemable taxable subordinate Tier-II bonds.
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