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Share market updates: Sensex falls 100 points,Nifty near 10,750; BoB uo 3%,Dena, Vijaya Bank Slump On Merger Deal

Market opens Equities have begun the day on a flat note, with the Nifty trading below 10,800. The Sensex is up 28.52 points or 0.08% at 35920.04, while the Nifty is down 2.20 points or 0.02% at 10790.30. The market breadth is negative as 268 shares advanced, against a decline of 139 shares, while 31 shares were unchanged. Wipro, Sun Pharma, Coal India and Titan are the top gainers, while ONGC, TCS, and HPCL lost the most. 

Rupee weakens for the 2nd day against the dollar
The Indian rupee on Thursday weakened for a second session against the US dollar, tracking losses in its Asian peers amid mounting concern about the global outlook after Apple Inc. cut its revenue forecast. At 9.13am, the rupee was trading at 70.37 a dollar, down 0.22% from the previous close of 70.17. It opened at 70.17. The 10-year gilt yield was trading at 7.393% from its previous close of 7.355%.



Dena, Vijaya Bank Fall; Bank Of Baroda Gain After Three-Way Merger Deal
Shares of Dena Bank slumped 19.38 per cent, the most in over ten years, to Rs 14.35 and Vijaya Bank shares dropped 7.54 per cent to Rs 47.20 while Bank of Baroda gained 3.39 per cent to Rs 123.40 after the government announced share swap ratio for the merger of three banks.
For every 1,000 shares of Dena Bank worth Rs 10 each, Bank of Baroda will issue 110 shares of Rs 2 each, the lender said in a stock exchange notice. Also, Vijaya Bank’s shareholders will get Bank of Baroda’s 402 shares of Rs 2 each for every 1,000 shares of Rs 10. As per yesterday's closing price, the swap ratio implies that Dena Bank has been valued at a discount of 27 per cent and Vijaya Bank has been valued at a discount of 6 per cent.

Crude Update: Oil prices fell on Thursday amid volatile currency and stock markets, and as analysts warned of an economic slowdown for 2019 just as crude supply is rising globally.

Share Market | Live Updates | Daena Bank | BOB | Vijaya Bank | Merger News | Rupee
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