Market Update - PNB gains 2%; MSTC hits; IndusInd, Axis bank slums

Punjab National Bank Swings - On Unit Stake Sale Plans Shares of the state-run lender fluctuated between gains and losses to trade 0.58 percent higher at Rs 95.95 The PSU Bank plans entered into an agreement to sell 1.08 crore shares in PNB Housing Finance to General Atlantic Group at Rs 850 apiece, according to its stock exchange filing. The bank also plans to sell 1.08 crore shares in PNB Housing Finance to Varde Partners at Rs 850 a piece, it said, adding that the total stake sale is worth about Rs 1,851.6 crore.

IndoStar Capital Finance Jumps - On Heavy Volumes Shares of IndoStar Capital Finance extended gains for the fifth consecutive trading session, its longest gaining streak in over three weeks. The stock rose as much as 10.7 percent, the most in over three months, to Rs 422.40.

Rupee rises 15 paise to 69.15 against US dollar in early trade - The rupee appreciated by 15 paise to 69.15 against the US dollar in opening trade Friday, driven by sustained foreign fund inflows and higher opening in the domestic equity market.

MSTC locked at 5% upper circuit after weak stock market debut - Shares of MSTC were locked in the upper circuit of 5 percent at Rs 117 in intra-day trade on the BSE, after making a weak debut. The stock was listed at Rs 111, a 7.5 per cent below its issue price of Rs 120 on the BSE.

Yes, Bank shares are trading 2% higher - at Rs 280, while VEDL shares are up by more than 2.2%. IndusInd Bank shares slumped by more than 1% to Rs 1,802, to emerge among the top losers in Sensex. Axis Bank shares slumped by more than 0.8% to Rs 774.20 on NSE.

The gainers are IOC, Indiabulls Housing, Hindalco, Wipro, Tech Mahindra, RIL, BPCL, Can Fin Homes, Vodafone Idea, Jet Airways, PFC, REC while losers include Axis Bank, IndusInd Bank, Eicher Motors, SBI life, and Motherson Sumi. All the sectoral indices are trading in green led by metal, energy, infra, IT, pharma and auto.

Source

Market News | PNB Shares | IndusInd Bank | Yes Bank | Top Gainers

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