Indian benchmark indices opened in the red but rebounded in the afternoon trade led by financial stocks. Nifty hits the high of 5955 but fell down and closed across to the previous day close. Nifty ended the day at 5921.40 inch lower to yesterday close of 5923.85, down by 2.45 points while Sensex ended at 19519.49 down by 48.73 points.
PTI reported the government is planning to sell 10% stake in IOC through offer for sale. The share sale could fetch over Rs 6,800 crore to the government.
While addressing shareholders at 39th annual general meeting, Reliance Industries chairman Mukesh Ambani said he remained bullish on business of Reliance Jio. He also said the company had spent Rs 18,000 crore on 4G so far.
Among the sectoral indices CNX PSU Bank surged 1.26% followed by Bank Nifty (0.89%) and CNX Finance (0.53%) while CNX Pharma plunged -1.22%.
Out of 50 stocks of Nifty 22 stocks advanced and 28 declined.
Top 5 Nifty gainers: Reliance Infrastructure (3.25%), HCL (2.71%), Axis Bank (2.66%), Ambuja Cement (2.51%) and BOB (2.34%) were among the top gainers.
Top 5 Nifty losers: Bharti Airtel (-2.53%), LUPIN (-1.86%), Infosys (1.75%), Sun Pharma (-1.70%) and NTPC (-1.66%) were among top losers.
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