NEW DELHI: Succumbing to a last hour selloff coupled with December series F&O expiry, the domestic equity market ended Thursday's session in the red, thus taking the losing streak to the second day.
The S&P BSE Sensex shed 64 points to settle at 33,848, with steel major Tata Steel (up 2 per cent) being the top gainer and state-run lender SBI (down 2 per cent) the worst laggard. The broader Nifty50 index of the National Stock Exchange (NSE) slipped below its crucial psychological level of 10,500 to close at 10,478, with 32 out of 50 constituents ending in the negative territory.
Here's a quick roundup of the top newsmakers of the day:
Resolution plan fires up Monnet Ispat
Shares of metal & mining company Monnet Ispat and Energy surged over 10 per cent during the session, after reports surfaced that the Aion Capital-JSW Steel consortium had submitted a resolution plan for the company. According to an ET report, the consortium, which had last week emerged as the frontrunner to acquire the bankrupt firm, has submitted a Rs 3,500 crore resolution plan that involves paying Rs 2,500 crore to lenders and an equity investment of Rs 1,000 crore, backed by a letter of comfort from ICICI Bank, said two top bankers. The stock settled at Rs 34 apiece on BSE, up 9.53 per cent.
Kolte Patil gains
Shares of Kolte-Patil Developers climbed as much as 5 per cent after the company informed the bourses later Wednesday that global investment firm KKR will invest Rs 193 crore in its township at Pune. In a regulatory filing, Kolte Patil said KKR has committed Rs 193 crore in its Kolte-Patil I-Ven Townships (Pune) Ltd (KPIT), which is a joint venture of Kolte-Patil and ICICI Venture Funds Management Company. The stock shut shop at Rs 371 apiece, up 3 per cent on BSE.
Realty, metal stocks rally
Realty stocks advanced the most on NSE, taking the Nifty Realty index 3 per cent higher to 345. Metal stocks, too, followed suit, and the Nifty Metal index gained over 2 per cent to 3,960 with 13 out of the 15 components ending in the green. Hindustan Copper (up 7.44 per cent), NALCO (up 6 per cent) and Jindal Steel (up 4.55 per cent) were the top gainers in the pack.
PSBs bleed the most
State-run lenders emerged worst performers with Nifty PSU Bank index plunging 2 per cent to settle at 3,694. Out of the 12 index constituents, 11 ended in the red. Syndicate Bank (down over 2 per cent), Andhra Bank (down 2 per cent) and Canara Bank (down 2 per cent).
Spurt in open interest
Repco Home Finance witnessed the biggest spike in open interest at 56.30 per cent, followed by Kajaria Ceramics (50.02 per cent) and Canara Bank (46.16 per cent).
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The post ETMarkets After Hours: Debt resolution plan fires up Monnet; PSBs bleed the most appeared first on News Wire Now.
