Indian Markets Trade on a Choppy Note

Wed, 30 Dec 11:30 am

   Previous Close   

   Pre-Open   

   09:30 am   

   01:30 pm   

   Closing   

After opening the day on a flattish note, the Indian Markets slipped marginally and are currently trading below the dotted line. Sectoral indices are trading on a mixed note with stocks from the telecom and power sectors leading the gains. Energy stocks are trading in the red.

The BSE-Sensex is trading down by 12 points (down 0.04%) and the NSE-Nifty is trading down by 2 points (down 0.02%). The BSE Mid Cap index and the BSE Small Cap index are trading higher, up 0.5% and 0.4% respectively. The rupee is trading at 66.43 to the US$.

Most of the banking stocks are trading in the green with Indian Overseas Bank and IDBI Bank leading the gains. As per a leading financial daily, IDBI Bank has reported that the government has infused Rs 22 billion in to the bank in lieu of preferential allotment of shares. The same was approved by the government of India on December 28. The release of this Rs 22 billion is towards the government's contribution in the preferential allotment of over 296 million equity shares at a price of Rs 75.28 per share.

The above initiative comes as a part of capital infusion that the government had announced early in August this year. It had declared a capital infusion of Rs 200 billion in 13 public sector banks (PSUs) that include Punjab National Bank, State Bank of India, IDBI, Bank of Baroda and Canara Bank. The capital infusion is one of the measures to resolve the long ongoing woes in the public sector banking space such as high levels of non-performing assets (NPAs), poor growth, and poor capital adequacy. These key issues stand as a hurdle for PSUs. In such a situation, one can expect significant consolidation in the banking sector in the times to come. We may see the under performers taken over by stronger counterparts. One of our articles from The Daily Reckoning shares some views on this topic. You can read it here.

Scrip of IDBI Bank is trading up by 1.8%.

As per a leading financial daily, Tata Power has refinanced its term loan of Rs 38 billion for its 4,000 MW ultra mega power project (known as Mundra UMPP) in Gujarat. The same is likely to reduce the interest burden of the plant by Rs 770 million a year. Furthermore, the refinancing scheme will help in extending the tenure of the rupee facility and assist in reducing the cost.

The Mundra project is being implemented by Coastal Gujarat Power (CGPL), a wholly-owned subsidiary of Tata Power. Tata Power had stated earlier that it was in discussion with a lenders' consortium to refinance loans by extending the tenure of loan repayments to Mundra UMPP.

The refinancing has been done as per the RBI circular, which has asked banks that a minimum 25% of the outstanding loan should be taken over by a new set of lenders from the existing financing banks and financial institutions. One must note that Axis Bank has joined as a new member of the rupee lenders' consortium of banks. The stock of Tata Power is trading up by 1.1%.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers