Volatility struck bourses in early trade as key indices regained positive zone after early fall. At 9:27 IST, the barometer index, the S&P BSE Sensex, was up 48.61 points or 0.12% at 39,038.35. The Nifty 50 index was up 2.75 points or 0.02% at 11,573.95. The Sensex regained the psychological 39,000 level in early trade.
As per reports, FM Nirmala Sitharaman's meeting with private banks, microfinance institutions (MFIs) and non-banking finance companies (NBFCs) yesterday, 26 September 2019 had a lot of positives. FM Sitharaman said not one voice expressed concerns on the liquidity front and there was near unanimity on rural demand for credit, that can be addressed with help from private sector banks, NBFCs and MFIs.
The S&P BSE Mid-Cap index was up 0.07%. The S&P BSE Small-Cap index was up 0.21%.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 712 shares rose and 458 shares fell. A total of 43 shares were unchanged.
Quess Corp gained 2.34% to Rs 466.60. The Preferential Issue Committee of the board of directors of Quess Corp has allotted 7,54,437 equity shares by way of private placement on a preferential issue basis to Amazon.com NV Investment Holdings LLC. The announcement was made after market hours yesterday, 26 September 2019.
Yes Bank lost 3.62%. Yes Capital (India) (YCPL), part of the promoter group of Yes Bank sold 1.8% shareholding in the bank. The proceeds will be utilized to prepay entire balance outstanding Non-Convertible Debentures (NCDs) of YCPL subscribed by various schemes of Franklin Templeton Asset Management (India). The announcement was made after market hours yesterday, 26 September 2019.
ITI rose 1.55%. ITI launched its cloud services and solutions platform for central and state government entities, banks, public sector undertakings, small and medium enterprises and Start Ups in India. The announcement was made after market hours yesterday, 26 September 2019.
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Punjab National Bank rose 1.27%. The board of Punjab National Bank has granted permission for raising funds through Additional Tier-I Basel-III compliant perpetual Bonds amounting up to Rs 3000 crore in one or more tranches. The announcement was made after market hours yesterday, 26 September 2019.
Lakshmi Vilas Bank (LVB) dropped 4.29%. LBV said the Economic Offences Wing, Delhi has registered a First Information Report (FIR) under 'Complaint for offences of cheating, criminal breach of trust by banker, criminal misappropriation and criminal conspiracy under the Indian Penal Code, 1860' upon the Directors of Board LVB, Director LVB, Connaught Place, New Delhi amongst others. The FIR is based on a complaint filed by Religare Finvest (RFL) pertaining to adjustment of their deposits to the dues of RHC Holding Pvt. Ltd and Ranchem Pvt Ltd. The bank is considering appropriate legal measures to counter the same. The announcement was made after market hours yesterday, 26 September 2019.
KPIT Technologies rose 1.78%. GETS Global Berhad and KPIT Technologies Pte. have agreed to establish, a Special Purpose Vehicle (SPV) - an E-Mobility Centre to pursue selective opportunities in the Malaysian and other ASEAN countries. GETS Global and KPIT Technologies had executed a Memorandum of Understanding (MoU) on 2 April 2019 to govern and regulate their relationship. The announcement was made after market hours yesterday, 26 September 2019.
Overseas, Asian stocks were trading mixed on Friday as investors watch for developments on the U.S.-China trade front. Trade negotiations between the U.S. and China are reportedly set to resume on October 10 in Washington, D.C.
China's industrial profits for August dropped 2% from a year earlier, according to the country's National Bureau of Statistics. That followed a 2.6% gain in July and a 3.1% in June.
US stocks slipped on Thursday as the release of a whistleblower report tied to the Democrats' impeachment move against President Donald Trump kept uncertainty high, while trade comments from China's top diplomat helped to limit losses.
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