Key equity benchmarks continued trading lower in afternoon trade. At 13:30 IST, the barometer index, the S&P BSE Sensex fell 323.33 points or 0.83% at 38,499.24. The Nifty 50 index declined 95.10 points or 0.83% at 11,417.30.
The S&P BSE Mid-Cap index was down 1.59%. The S&P BSE Small-Cap index fell 1.63%.
The market breadth was weak. On the BSE, shares 594 rose and 1,728 shares fell. A total of 137 shares were unchanged.
HCL Technologies (up 4.48%), Infosys (up 2.88%), UPL (up 2.14%), TCS (up 1.64%) and Tech Mahindra (up 1.14%) advanced.
IndusInd Bank (down 6.52%), Zee Entertainment Enterprises (down 4.30%), ICICI Bank (down 3.26%), Sun Pharmaceutical Industries (down 3.20%) and State Bank of India (down 3.18%) declined.
Cipla declined 3.21% after the company informed that the United States Food and Drug Administration (USFDA) conducted a cGMP inspection at its Goa manufacturing facility from 16 to 27 September 2019. The inspection ended with 12 observations, none of which are related to data integrity. The company will respond to the agency within the stipulated timeline. The announcement was made on Saturday, 28 September 2019.
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Yes Bank tumbled 11.37% to Rs 43.25. The bank said it received acknowledgment from the Reserve Bank of India to go ahead with the proposed increase in its authorized share capital. The bank shall now seek necessary shareholders' consent and proceed expeditiously with its capital raise. The announcement was made before market hours today, 30 September 2019.
Yes Bank announced during trading hours on 25 September 2019, that it has received strong interest from multiple foreign as well as domestic private equity & strategic investors for the proposed capital raise and it remains firmly on course to raising growth capital subject to the necessary approvals. Yes Bank raised Rs 1,930 crore via qualified institutions placement (QIP), which was open between 8 and 14 August 2019. The bank allotted 23.1 crore equity shares of face value of Rs 2 each to eligible qualified institutional buyers at Rs 83.55 each.
Bajaj Finance was up down 0.01%. The stock hit an all time record high of Rs 4,115 today, 30 September 2019.
Shares of Asian Paints was down by 1.50% on reports that a global research and brokerage firm downgraded the stock from overweight to equal weight with a target price of Rs 1,820 per share. According to the brokerage house, Asian Paints is a good long-term player with an expectation of well-balanced risk-reward ratio at the current market price.
Auto major Maruti Suzuki India lost 0.90% after it launched its much-awaited Mini-SUV S-PRESSO today, 30 September 2019. It stands out with its bold and powerful SUV stance. It is built on acclaimed 5th generation HEARTECT platform, using 40% high tensile steel that ensures stronger, safer and sturdier structure.
Overseas, most shares in Europe and Asia were trading lower on Monday. China's factory activity shrank for the fifth straight month in September. The official Purchasing Managers' Index (PMI) was at 49.8 in September, slightly higher than 49.5 in August, data from the National Bureau of Statistics (NBS) showed.
In Eurozone, British PM Boris Johnson, on Sunday, 29 September 2019, said that he would not step down even if he fails to secure a deal to leave the European Union (EU). He also added that, only his Conservative Party would be able to deliver a Brexit on the stated 31 October 2019.
Meanwhile, the U.K. and Spain will announce their second quarter GDP (gross domestic product) data on Monday morning. Also, the figures on Eurozone employment rate data for the month of August 2019, will follow slightly later in the day.
US stocks fell on Friday after reports that the Trump administration was considering delisting Chinese companies from US stock exchanges, raising worries about a further escalation in the US-China trade war.
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