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Benchmarks trade with minor cuts; Nifty holds 17,800

Published on Sep 21, 2022 10:28

The key equity indices continued to trade with minor losses in the morning trade. The Nifty managed to hold the 17,800 level. Private bank shares declined. Negative global cues dented the investor sentiments.

At 10:24 IST, the barometer index, the S&P BSE Sensex, was down 17.27 points or 0.03% to 59,702.47. The Nifty 50 index declined 15.10 points or 0.09% to 17,801.15.

In the broader market, the S&P BSE Mid-Cap index gained 0.17% while the S&P BSE Small-Cap index rose 0.14%

The market breadth was negative. On the BSE, 1,644 shares rose and 1,496 shares fell. A total of 156 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,196.19 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 131.94 crore in the Indian equity market on 20 September, provisional data showed.

Buzzing Index:

The Nifty Private Bank index fell 0.73% to 21,193.60. The index added 1.73% in the past two trading sessions.

IndusInd Bank (down 2.1%), IDFC First Bank (down 1.46%), Bandhan Bank (down 1.19%), Kotak Mahindra Bank (down 0.81%), Federal Bank (down 0.57%), ICICI Bank (down 0.49%), HDFC Bank (down 0.36%), Axis Bank (down 0.33%) and RBL Bank (down 0.04%) edged lower.

On the other hand, City Union Bank (up 1.44%) advanced.

Stocks in Spotlight:

Indian Hotels Company rose 0.09%. The hospitality group on Tuesday (20 September) announced the signing of its second hotel in Dharamshala, Himachal Pradesh under the SeleQtions brand. A franchised hotel in management with Sohum Hotels & Resorts, the operational hotel will be rebranded under the IHCL SeleQtions brand.

Wipro declined 0.68%. The company said that it has partnered with Finastra, a global provider of financial software applications and marketplaces, to help the corporate banks in India to accelerate digital transformation by deploying Finastra`s leading solutions. This partnership combines its expertise across consulting, digital, infrastructure and operations with Finastra`s cutting-edge solutions to deliver modern API enabled platforms for banks to innovate, streamline and digitize core trade finance processes, while reducing cost overheads, the company stated.

NBCC (India) rose 1.18% after the company said that it has secured the total business of Rs 274.77 crore during the month of August 2022.

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