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The frontline indices continued to trade with modest losses in morning trade. The Nifty slipped below the 23,900 level after hitting the day's high of 24,065.80 in morning trade. Private bank shares witnessed selling pressure for the fourth consecutive trading session. At 10:29 IST, the barometer index, the S&P BSE Sensex, declined 221.80 points or 0.26% to 78,936.31. The Nifty 50 index lost 67.90 points or 0.28% to 23,883.80. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 0.51% and the S&P BSE Small-Cap index fell 0.38%. The market breadth was negative. On the BSE, 1,668 shares rose and 1,917 shares fell. A total of 181 shares were unchanged. New Listing: Shares of International Gemmological Institute India were currently trading at Rs 474.25 at 10:25 IST on the BSE, representing a premium of 13.73% as compared with the issue price of Rs 417. The scrip was listed at Rs 504.85, exhibiting a premium of 21.06% to the issue price. So far, the stock has hit a high of 525 and a low of 472.20. On the BSE, over 25.56 lakh shares of the company were traded in the counter so far. Buzzing Index: The Nifty Private Bank index dropped 1.06% to 24,791.15. The index plunged 4.54% in four consecutive trading sessions. RBL Bank (down 5.03%), Axis Bank (down 2.11%), IDFC First Bank (down 1.14%), Federal Bank (down 1.12%), IndusInd Bank (down 1.10%), HDFC Bank (down 0.85%), Kotak Mahindra Bank (down 0.54%), City Union Bank (down 0.49%), ICICI Bank (down 0.25%) and Bandhan Bank (down 0.10%) declined. Stocks in Spotlight: Mufin Green Finance shed 0.61%. The company has entered into finance agreement with United States International Development Finance Corporation, a U.S. Government's development finance institution for the financial facility up to the sum of USD 18 million. BASF India surged 8.79% after the company's board has given in-principle approval for the demerger of the company's agricultural solutions business into a separate listed entity. The agricultural solutions business generated sales of Rs 2,006.46 crore, representing 14.57% of the total revenues of the company in FY24. Powered by Capital Market - Live News |