Nifty ended marginally lower, as losses in bank stocks were mostly offset by gains in IT counters even as hawkish RBI minutes stoked rate hike concerns.
Bank stocks reeled under selling pressure, falling up to 7 percent after minutes of the RBI's last policy meeting indicated a shift towards a hawkish stance from June.
The key Indian equity markets provisionally closed higher on Thursday, tracking a similar trend in the benchmark Asian markets.
Markets ended marginally lower after nine consecutive sessions of gains owing to a fag-end rush among investors to unwind bets amid sustained foreign fund outflows.
Wall Street major indexes fell morning, erasing all their gains coming out of the opening bell as JPMorgan led a sharp reversal in financial stocks.
Nifty continued its positive momentum for the sixth straight session to end at 10,458.65, up 41.50 pts, led by gains in IT and banking stocks.
In the banking pack, Kotak Mahindra Bank settled for the day with gains of 3.38 percent, while Yes Bank ended higher by 2.36 percent and SBI 4.66 per cent.
On BSE, shares of ICICI Bank ended the day with a gain of 2.94 per cent, Bank of Baroda 2.29 per cent and Yes Bank 2.11 per cent.
Nifty after moving between 10,171.05 and 10,255.35 on alternate bouts of selling and buying, concluded 33.20 points, or 0.33 per cent, higher at 10,245.
The wider Nifty50 of the National Stock Exchange (NSE) edged higher by 33.20 points or 0.33 per cent to provisionally close at 10,245 points (at 3.30 p.m).
Steel Ministry To Announce Scrap Policy This Year
Draft Scrappage Policy Allows Benefits For Vehicles Older Than 20 Yrs
Steel Secy Arun Sharma Says Policy Will Be Out By December 2018
Scheme Will Come In Effect From April 2020
Telenor India Eyes Bankruptcy Filing, Merger Plan With Airtel May Take Hit
Legal Tussle Over Bank Guarantee Could Also Delay Govt Approval
Economic Times Reports
Lenders To Meet Today To Decide On Essar Steel
CoC May Give Time To Arcelor And Numetal To Rectify Bids
Business Standard Reports
IPO under SEBI scanner
SEBI has sought details of investment made by ICICI Prudential MF
Had to cut its IPO Size To Rs 3,520 Cr from original target of Rs 4,017 Cr
A large chunk was bought by ICICI MF
ICICI MF is ICICI Securities largest public shareholder with 3.82% stake
Board approves proposal for corporate restructuring
Move aimed at simplifying & clarifying structure & holdings
To focus on travel, forex, destination mgmt & portfolio investments
Restructuring will consolidate HR services into Quess Corp
Shareholders will receive 1,889 shares of Quess for every 10,000 Shares Held in Co