Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

New Delhi, Mar 12 () Troubled Yes Bank will be replaced in the Nifty banking index by Bandhan Bank from March 27, a subsidiary of the National Stock Exchange said on Thursday. The replacement has been done on account of non-availability of future and options contracts in Yes Bank shares, NSE Indices said in a statement. Last month, the exchange said that Yes Bank would be moved out from the benchmark index Nifty 50 from March 27. Besides, the bank would be dropped from from futures and options segment from May 29. Apart from the banking index, changes have also been made in several indices, including Nifty Alpha 50, Nifty High Beta 50, Nifty 500, Nifty Small-cap 250 and Nifty Midsmallcap 400. NSE Indices' Index Maintenance Sub-Committee has decided to make the replacement of stocks in various indices as part of its periodic review. Among others, Gayatri Projects would be excluded from Nifty 500, Nifty Smallcap 250 and Nifty Smallcap 400 indices. Shilpa Medicare would be added in its place in these indices. SP RAM

Yes Bank to be dropped from Nifty bank index from Mar 27

The <keyword id="53581" type="CITY" weightage="20" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword> of India (NSE) on Thursday said it has received an approval from the <keyword id="155823" type="ORGANIZATION" weightage="20" keywordseo="Securities-Exchange-Board-of-India">Securities Exchange Board of India</keyword> (<keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword>) to launch derivatives on the <keyword id="4235902" type="PERSON" weightage="20" keywordseo="nifty-financial-services-index">Nifty Financial Services Index</keyword> in the 'futures &amp; options' segment of the exchange. Currently, the NSE offers index derivatives on only two equity indices '<keyword id="6136404" type="UNKNOWN" weightage="20" keywordseo="nifty-50-index">Nifty 50 Index</keyword>' and the '<keyword id="3505641" type="PERSON" weightage="20" keywordseo="Nifty-Bank-Index">Nifty Bank Index</keyword>'. The exchange will launch the index derivatives from January 11, 2021. As per the NSE, the financial services sector assumes significance as the sector accounts for 33.5 per cent of the Nifty 500 index. "The Nifty Financial Services Index comprises of 20 stocks and is designed to reflect the behaviour and performance of the Indian financial market which includes banks, financial institutions, housing finance, insurance companies and other financial services companies," the NSE said in a statement. Recent investment data of Foreign Portfolio Investors (FPIs) indicates that 48 per cent of new investment flows were channelised into the financial services sector, as per the statement. "The sector accounted for 35 per cent of the assets under the custody of FPIs. Further, many of the asset management companies have mutual fund schemes on the financial sector theme." "The Nifty Financial Services index has a 94 per cent correlation and a beta value of 1.2 with the <keyword id="66115" type="PERSON" weightage="20" keywordseo="Nifty-50">Nifty 50</keyword> Index. It has a correlation of 98 per cent with the Nifty Bank index. The Nifty Financial Services index has delivered annualised returns of 14.99 per cent in the last 5 years." According to the exchange, it will offer 'futures and options' in seven serial weekly excluding the monthly expiry and three serial monthly contracts. "This is the first time that the exchange will make available weekly futures for the stock index derivatives," the statement said. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/instagram-facebook-messenger-outage-in-india-europe-japan-and-other-parts-of-the-world/articleshow/79661777.cms">Instagram and Facebook Messenger down for users across the globe</a> <a href="https://www.businessinsider.in/stock-market/news/infosys-hcl-tech-and-tcs-stocks-may-see-another-surge-estimates-edelweiss-heres-why/articleshow/79659516.cms">One research firm says shares of Infosys, HCL Tech, and TCS may see another surge — here's why</a> <a href="https://www.businessinsider.in/tech/news/india-desi-gps-finally-joins-china-russia-and-the-us-after-a-two-year-long-wait/articleshow/79656300.cms">India’s desi-GPS is now in the same league as the US, Russia and China — can scan 1,500 kilometres beyond its own borders</a>

SEBI approves the launch of derivatives on NSE's Nifty Financial Services Index starting January 11

New Delhi, Mar 16 () Troubled private lender Yes Bank will be dropped from benchmark index Nifty 50, banking index Nifty bank and other Nifty indices from March 19, NSE Indices said on Monday. Earlier, the changes were scheduled to happen on March 27, NSE Indices, a subsidiary of the National Stock Exchange (NSE), said in a statement. However, in light of the recent developments relating to Yes Bank and its reconstruction scheme, NSE Indices' Index Maintenance Sub-Committee (IMSC) has decided to accelerate the removal of Yes Bank from Nifty 50 and Nifty Bank and also remove it from all Nifty equity indices from Thursday, March 19. Shree Cement will replace the private lender in Nifty 50 and in Nifty bank index, Bandhan Bank will find a place. The troubled lender will also be removed from Nifty 100 and Nifty 500. In Nifty 100, Adani Transmission will replace Yes Bank, while in Nifty 500, Sterling and Wilson Solar will be added. Earlier in February, NSE Indices had announced that on account of Yes Bank being excluded from Nifty 50 and Nifty 100, it was being included in Nifty Midcap 150, Nifty Midcap 50, Nifty Midcap 100, Nifty MidSmallcap 400 and Nifty Midcap Liquid 15 from March 27. In light of the decision to exclude Yes Bank from all our equity indices, the lender will not be included in these indices from March 27 and the replacements of Yes Bank in these indices will be announced in due course. On Saturday, the government had notified the Yes Bank Limited Reconstruction Scheme, 2020, a day after cabinet approval. Under the scheme, State Bank of India will invest for 49 per cent equity in Yes Bank and other investors are also being invited. There will be a three-year lock-in period for all the investors. However, the lock-in period for SBI would be only for the 26 per cent of the shareholding. The moratorium, which was placed by Reserve Bank of India on March 5, restricting withdrawal to Rs 50,000 per account, will also be lifted by 6 pm on Wednesday. SP ANSANS

Yes Bank to be excluded from Nifty 50, Nifty bank from Mar 19

<ul><li>Rollovers for <keyword id="109714" type="General" weightage="80" keywordseo="nifty-futures" source="Orion">Nifty Futures</keyword> stood at 83%, higher than the last three series, which were at 79%.</li><li>Looking back at the <keyword id="3703633" type="General" weightage="50" keywordseo="october-series" source="Orion">October series</keyword>, it initially appeared to be a calm period for the domestic markets, with trading within a stable range.</li><li>October’s selloff not only due to geopolitical risks, but because Indian equities reached the overheated zone. </li></ul> October has been tumultuous for investors as it began with much promise but ended up burning many who did not read the signals right. The November series of <keyword id="109714" type="General" weightage="80" keywordseo="nifty-futures" source="Orion">Nifty futures</keyword> is set to begin with a higher open interest (OI) base compared to the <keyword id="3703633" type="General" weightage="50" keywordseo="october-series" source="Orion">October series</keyword>, indicating a significant short build-up. Rollovers for <keyword id="6354813" type="General" weightage="100" keywordseo="nifty" source="Orion">Nifty</keyword> futures stood at 83%, higher than the last three series, which were at 79%. This suggests that traders are actively shifting their positions to the November series. On the expiry day, the roll cost for <keyword id="6354813" type="General" weightage="100" keywordseo="nifty" source="Orion">Nifty</keyword> was around 50-52 basis points (bps), slightly higher than the previous day's 50 bps. Market-wide futures open interest at the start of the November series is at approximately Rs 2.710 trillion, lower than the Rs 2.863 trillion seen at the start of the October series. However, market-wide rollovers are at 92%, higher than the three-month average of 91%. According to Nuvama Alternative and Quantitative Research, stock futures rollovers are at 94%, higher than the average rollovers of the last three series at 93%. The roll cost for single stock futures (SSF) today was around 63-66 bps, slightly lower than yesterday's 66-70 bps. Nuvama had anticipated October’s fall in their earlier note and it has played out pretty much like their analysts predicted. Looking back at the October series, it initially appeared to be a calm period for the domestic markets, with trading within a stable range. However, starting from October 18th, there was a sudden surge in volatile price activity, triggering relentless selling pressure. This pressure affected not only heavyweight stocks but also small and mid-cap stocks, which are usually market favorites. The October series will be remembered for its suspense, slight ups, and rapid descents, showcasing the dynamic nature of equity markets. October’s selloff can be attributed to several factors – not just geopolitical triggers. The key ones are rising US bond yields, rich valuations of the Indian market and, of course, the earnings season. Markets were simmering on multiple fronts, reaching an overheated territory. This correction, which was long overdue since the last series, has finally begun to unfold, marking a significant shift in the market landscape. During the October series, the Nifty Index declined by 3.4%, settling at 18,857, while the Nifty Bank was down 4.6%, settling at 42,280. The Midcap Index and Small-cap Index also experienced losses of 5% and 1.8%, respectively. In terms of sectoral performance, the <keyword id="4668838" type="General" weightage="20" keywordseo="psu-bank-index" source="Orion">PSU Bank Index</keyword> was hit the hardest, down 8.7%, followed by the <keyword id="139342" type="General" weightage="20" keywordseo="it-index" source="Orion">IT Index</keyword> (down 5.2%), Metals Index (down 4.7%), Media Index (down 4.4%), Pvt Bank Index (down 4.2%), Fin Serv Index (down 3.8%), and Pharma Index (down 2.5%). The only index that managed to settle in the green was the Realty Index, up 0.3%. Amidst the market drama, foreign portfolio investors (FPIs) pulled out over $2 billion from Indian equities in October. However, the net inflow from March till date still totals to $14.4 billion. Rising interest rates, US bond yields, and lofty valuations are commonly cited reasons for FPIs withdrawing flows. On the other hand, domestic institutional investors (DIIs) continued to inject funds, nearing an impressive $3.1 billion. The participation of high net worth individuals (HNIs) and retail investors, although not officially reported, is believed to have had a significant influence on the market. In conclusion, the rollovers and November series of Nifty futures provide valuable insights for investors. The higher open interest base and significant short build-up indicate a shift in market sentiment. The October series, with its volatile price activity and market turbulence, serves as a reminder of the dynamic nature of equity markets. Investors should closely monitor the rollover data and OI positions to gauge market sentiment and make informed investment decisions.

Rollovers and November series of Nifty Futures provides a clear roadmap for investors

New Delhi, Mar 16 () A sudden decision to restrict trading in <keyword id="30335" type="ORGANIZATION" weightage="20" keywordseo="Shares">shares</keyword> of <keyword id="45660" type="COMPANY" weightage="20" keywordseo="Yes-Bank">Yes Bank</keyword> to a maximum 25 per cent of holdings over the weekend has left institutional and other large investors, including FPIs, flummoxed as many of them might not be able to meet liquidity needs. While shares of Yes Bank rose sharply by more than 50 per cent to hit a high of Rs 40.40 apiece at the BSE on Monday following a restructuring scheme notified by the government on Saturday, one particular clause to restrict trading in the bank's shares left many investors concerned. Several market observers, including senior fund managers, said foreign portfolio investors (FPIs) and other institutional investors have raised concerns regarding difficulty in liquidating their positions in cash and derivatives segment because of this scheme. Since this has been done without any prior notification to the market, it has created a major problem for mutual funds and other investors with significant positions in derivatives segment as to how would they be able to meet their obligations because of derivatives being required to be physically settled. Under the scheme, if you hold 100 or more shares of Yes Bank, you can now sell a maximum of 25 per cent of your holdings (as on Friday, March 15, 2020) and the 75 per cent will be under lock-in for three years. While this message was conveyed to the investors by their brokers by Monday morning, many are finding it difficult to meet their liquidity needs and are planning to raise the issue with the concerned authorities. Several brokers, including HDFC Securities, also told investors that any trades in Yes Bank would be possible only through the desktop and not through mobile trading apps. They brokers have also circulated messages that if an investor has open e-margin position in Yes Bank, it will be converted to delivery on Monday and the investors have been asked to keep sufficient funds to avoid any shortfall. As on December 2019, more than 16 lakh non-promoter shareholders held Yes Bank shares (amounting to a total holding of nearly 92 per cent in the bank). These included 295 institutional investors -- 25 mutual fund schemes, 9 alternate investment funds, 238 FPIs, 4 financial and banking institutions, 8 insurers and 11 qualified institutional buyers -- together holding nearly 30 per cent stake. Besides, a large number of individual shareholders together had nearly 49 per cent stake or more than 121 crore shares. Also, the troubled private lender will now be dropped from benchmark index Nifty 50, banking index Nifty bank and other Nifty indices from March 19, as against the earlier announced date of March 27, said NSE Indices, a subsidiary of the National Stock Exchange (NSE). In light of the recent developments relating to Yes Bank and its reconstruction scheme, NSE Indices' Index Maintenance Sub-Committee has decided to accelerate the removal of Yes Bank from Nifty 50 and Nifty Bank and also remove it from all Nifty equity indices from Thursday, March 19, it added. Besides Nifty 50 and the Nifty bank index, Yes Bank will also be removed from Nifty 100 and Nifty 500, among other indices. On Saturday, the government had notified the Yes Bank Limited Reconstruction Scheme, 2020, a day after the union cabinet's approval. Under the scheme, State <keyword id="6355303" type="DOMAIN" weightage="20" keywordseo="bank-of-india">Bank of India</keyword> will invest for 49 per cent equity in Yes Bank and other investors are also being invited. There will be a three-year lock-in period for all the investors. However, the lock-in period for SBI would be only for the 26 per cent of the shareholding. The moratorium, which was placed by <keyword id="6354335" type="COMPANY" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> on March 5, restricting withdrawal to Rs 50,000 per account, will also be lifted by 6 pm on Wednesday. BJ ANSANS

Yes Bank's trading curbs baffle investors who were looking to gain from the sharp spike

<ul><li>The benchmark <keyword id="2931774" type="PERSON" weightage="20" keywordseo="Nifty50">Nifty50</keyword> index crossed the 16k milestone for the first time. </li><li>It took only 6 months to grow by 1,000 points, or 6.7%. </li><li>Check out the list of the top ten stocks in the <keyword id="6151982" type="UNKNOWN" weightage="20" keywordseo="Nifty200">Nifty200</keyword> index by volume traded. </li></ul>India's benchmark Nifty50 index crossed a key milestone for the first time, setting a new record, after facing resistance around the 16,000 level for a few weeks now. The Nifty50 index took nearly 6 months to gain 1,000 points, which is growth of 6.7% from the 15,000 level. So far in 2021, the benchmark index is up by over 14%. The Nifty200 index has also been positive overall, with two out of every three stocks registering an increase today. In the index, 132 stocks registered an increase and 67 stocks declined. One stock remained unchanged. Overall, the Nifty200 index was up by 1.26%, with the total volume crossing 1.9 billion. Vodafone Idea, Punjab National Bank and BHEL were amongst the top 10 stocks by volume to end the day in red. On the other hand, Ashok Leyland, SBI and Bank of Baroda gained the most in the list. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#000000;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Stock </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#000000;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Volume (shares in million) </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#000000;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Vodafone Idea </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">839 </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-10.91 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Punjab National Bank </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">101 </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-1.11 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Yes Bank </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">63 </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">0.39 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Tata Power </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">50 </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-0.71 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Ashok Leyland </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">42 </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">4.6 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">State Bank of India </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">41 </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2.55 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Steel Authority of India </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">40 </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-0.5 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Bank of Baroda </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">38 </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2.48 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">31 </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2.29 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">BHEL </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">30 </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-1.17 </td></tr></tbody></table>Source: NSE Vodafone Idea, the biggest loser in Nifty200, has <a href="https://www.businessinsider.in/business/telecom/news/as-vodafone-idea-shares-dive-10-and-more-heres-a-look-at-what-analysts-had-to-say-about-it-prospect-in-recent-weeks/articleshow/84999673.cms">lost a fifth of its value</a> in the last one month. At the end of the day, Vodafone Idea’s shares closed at ₹7.35, after a fall of nearly 11%. Things are so dire for the telco that its Indian promoter, Kumar Mangalam Birla, has <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-news-birla-offers-to-give-up-his-27-stake-in-vodafone-idea/articleshow/84969189.cms">offered</a> to give up his 27% stake in the company to any entity that wants to keep running Vodafone Idea. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/as-vodafone-idea-shares-dive-10-and-more-heres-a-look-at-what-analysts-had-to-say-about-it-prospect-in-recent-weeks/articleshow/84999673.cms">As Vodafone Idea shares dive 10% and more, here's a look at what analysts had to say about it prospect in recent weeks</a> <a href="https://www.businessinsider.in/stock-market/news/devyani-international-exxaro-tiles-krsnaa-diagnostics-and-windlas-biotech-ipos-are-opening-tomorrow/articleshow/85000565.cms">Watch out for 4 IPOs opening on August 4— here’s a snapshot for each of the companies selling shares tomorrow</a> <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-news-birla-offers-to-give-up-his-27-stake-in-vodafone-idea/articleshow/84969189.cms">Birla is reportedly ready to give Vodafone Idea to the Indian government</a>

Top ten stocks by number of shares traded today

The <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> snapped a 3-day losing streak posting a modest gain of 0.3 percent as short covering and some long positions helped the Index close above a crucial support level. 
 The Nifty ended 28 points higher at 8,350 with 32 shares gaining ground compared with 18 that fell. Vedanta and <keyword id="44642" type="CITY" weightage="100" keywordseo="Sun-Pharma">Sun Pharma</keyword> were the top gainers on the Nifty with TCS, <keyword id="6359783" type="CITY" weightage="100" keywordseo="Bajaj-Auto">Bajaj Auto</keyword> and <keyword id="6365619" type="CITY" weightage="100" keywordseo="Hindustan-UniLever">Hindustan Unilever</keyword> bringing up the rear. 
 The <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword> shut shop at 27,661 with the Index gaining 87 points on Friday. <keyword id="6354446" type="CITY" weightage="100" keywordseo="BHEL">BHEL</keyword>, HDFC Bank and <keyword id="6355199" type="CITY" weightage="100" keywordseo="Reliance-Industries">Reliance Industries</keyword> shone brightly in trade even as Bharti, GAIL and ONGC slipped. The wider Advance-Decline on the broader markets favoured the bulls with 1,423 shares rising compared with 1,380 that fell. 
 Among other indices, the <keyword id="151330" type="COMPANY" weightage="100" keywordseo="Bank-Nifty">Bank Nifty</keyword> was in a fine uptrend, gaining 1.1 percent at 18,719 points. 21 out of 22 Banking Futures posted smart gains as traders latched on to beaten down valuations, especially in the PSU banking space. 
 
CNX Energy Index, CNX Pharma Index and CNX Media Index were the others that posted gains. 
 
(Image credits: openmarkets)

It's not been an entirely bad day at the markets today. Know why

<keyword id="722345" type="General" weightage="80" keywordseo="nifty-bank" source="Orion">Nifty Bank</keyword>, which is comprised of the most liquid and large capitalised Indian banking stocks, is up 11.76 per cent so far this year due to robust earnings growth of banks, return of foreign investors in Indian equities since July and attractive valuations. Currently, the <keyword id="6354813" type="General" weightage="100" keywordseo="nifty" source="Orion">Nifty</keyword> Bank index is trading at 39,656.15, as compared to 35,481.70 on December 31, 2021. According to the data compiled by <keyword id="824141" type="General" weightage="50" keywordseo="geojit-financial-services" source="Orion">Geojit Financial Services</keyword> showed, the top three banks that have outperformed the index were Bank of Baroda with YTD returns of 47.90 per cent, Federal Bank with 21.20 per cent, and IndusInd Bank with 21.10 per cent. On Thursday, <keyword id="46013" type="General" weightage="50" keywordseo="kotak-mahindra-bank" source="Orion">Kotak Mahindra Bank</keyword>, Bandhan Bank, Federal Bank, <keyword id="6354731" type="General" weightage="50" keywordseo="state-bank-of-india" source="Orion">State Bank of India</keyword>, IndusInd Bank, HDFC Bank, AU Small Finance Bank, ICICI Bank, Axis Bank, PNB, <keyword id="6986952" type="General" weightage="50" keywordseo="idfc-first-bank" source="Orion">IDFC First Bank</keyword>, and Bank of Baroda were stocks in the Nifty Bank index. "The banking sector has demonstrated strong resilience so far this year, supported by multiple factors. 1. Strong quarterly earnings driven by robust credit growth, margin expansion, improved asset quality and lower provisioning; 2. FIIs return to buying mode due to favourable economic factors; 3. Attractive valuation. We believe that the rally is still in its early stages and that valuations have room to rise further, given improved fundamentals," said Vinod Nair, Head of Research at Geojit Financial Services. According to the ICICI Securities report, banks under their coverage in Q1 FY23 reported 16 per cent on-year and 2 per cent on-quarter growth in net interest income. Core operating profit grew 17 per cent on-year, while <keyword id="6374832" type="General" weightage="80" keywordseo="treasury" source="Orion">treasury</keyword> loss dragged operating profit lower by 13 per cent on-year and 18 per cent on-quarter. Subsiding credit cost and lower base supported 35 per cent on-year earnings growth. However, earnings of State Bank of India, HDFC Bank and Kotak Mahindra Bank lagged I-Sec expectations due to higher than anticipated treasury loss and elevated opex. G-sec yields surged 65 basis points since March to 7.5 per cent till June and corporate bond yields by 70 basis points. This created pressure on treasury profits for banks that dragged overall earnings growth. Having 25-60 per cent of investment portfolio in AFS/HTM with 1-2 years of modified duration led to a treasury knock. Banks with relatively higher investment in corporate bonds (credit substitute) witnessed above-expected hit. On an average, banks registered treasury loss equivalent to high single digit of revenues and 15 per cent of core operating profit. Banks' upbeat stance on growth was reflected in advance growth of 2-4 per cent on-quarter in Q1 FY23, otherwise a seasonally slow quarter. Growth was primarily led by retail and proportion of unsecured retail advances inched up. Sequential loan growth momentum was dragged by 2-wheeler segment and agri (in few banks). While, inflows of foreign investors in the Indian equities was Rs 21,252.60 so far from July 28. Foreign investors turned buyers since late July after remaining sellers in the equities for almost 9 months. Experts believe that foreign investors have returned to Indian market because India is preferred destination as country has best growth prospects among large economies of the world. FPIs have turned net buyers in autos, capital goods, FMCG, and Telecom. Due to this, the Sensex is now trading above 60,000 mark and Nifty over 17,900. Going forward, profitability of banks is expected to improve with a robust credit growth outlook and improving asset quality. Additionally, in the rising interest rate scenario, banks with a higher proportion of flexible loans will showcase margin expansion. "We expect that the mark-to-market impact of rising bond yields on treasury income will hurt banks, particularly PSUs in the short term, who have higher investments in bonds. We continue to recommend top private sector banks that are better poised to reap the benefits of economic recovery with stronger balance sheets and neat loan books. The sector is currently trading at its 5-year averages, which indicates significant room for expansion. However, the near-term trend will be dictated by the movements in FII activities," Nair added. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/zomatos-quick-commerce-app-blinkit-to-deliver-printouts-at-your-doorsteps-in-11-minutes/articleshow/93651814.cms">Zomato’s quick commerce app Blinkit to deliver printouts at your doorsteps in 11 Minutes</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rupee-expected-to-trade-at-around-79/-on-fii-inflows-easing-crude-prices-bob/articleshow/93651698.cms">Rupee expected to trade at around 79/$ on FII inflows, easing crude prices: BoB</a>

You Searched For "Nifty Bank Index" and got 8 results

Yes Bank to be dropped from Nifty bank index from Mar 27

PTI

SEBI approves the launch of derivatives on NSE's Nifty Financial Services Index starting January 11

IANS

Yes Bank to be excluded from Nifty 50, Nifty bank from Mar 19

PTI

Rollovers and November series of Nifty Futures provides a clear roadmap for investors

BI India Bureau

Yes Bank's trading curbs baffle investors who were looking to gain from the sharp spike

PTI

Top ten stocks by number of shares traded today

Rounak Jain

It's not been an entirely bad day at the markets today. Know why

Shailendra Bhatnagar

Nifty Bank index up over 11% so far this year, BoB outperforms index

IANS

Popular Keywords

Buying Guides