Benchmarks hit day's low amid profit booking

The equity benchmarks reversed early gains and hit fresh intraday low in morning trade. Traders booked profits after the Nifty jumped 4.8% in past five trading sessions.

At 10:25 IST, the barometer index, the S&P BSE Sensex, was down 47.60 points or 0.13% at 36,626.92. The Nifty 50 index fell 7.60 points or 0.07% at 10,792.05.

In the broader market, the S&P BSE Mid-Cap index rose 0.23% while the S&P BSE Small-Cap index gained 0.23%.

The market breadth was positive. On the BSE, 1155 shares rose and 1032 shares fell. A total of 121 shares were unchanged.

BHEL (down 1.41%), Equitas Holdings (down 2.45%), Glenmark Pharmaceuticals (up 1.61%) and Indiabulls Housing Finance (up 0.78%) are banned from trading in NSE's F&O segment for today after the securities crossed 95% of market wide position limit.

Buzzing Index:

The Nifty PSU Bank index rose 3.11% to 1,523.70. The index had lost 0.34% yesterday.

Bank of Maharashtra (up 10.09%), Jammu and Kashmir Bank (up 4.93%), Indian Overseas Bank (up 4.72%), Canara Bank (up 4.31%), Bank of Baroda (up 4.04%), CBI (up 3.74%), Union Bank of India (up 3.27%), UCO Bank (up 3.23%), Indian Bank (up 2.62%), Punjab National Bank (up 2.45%), Bank of India (up 2.32%) and SBI (up 1.99%) advanced.

Stocks in Spotlight :

Yes Bank rose 1.75% to Rs 26.20 after the bank's capital raising committee (CRC) at the meeting held yesterday approved raising funds by way of a further public offering (FPO). The bank said that a meeting of its CRC is scheduled to be held on or after 10 July 2020, to consider and approve the price band and discount for the issue, if any.

From its day's low of Rs 24.30 hit in early trade, the scrip surged 11.52% to hit the day's high at Rs 27.10 in trade today on the BSE. A total of 15.12 lakh shares were traded in the counter so far with 46.44% shares marked for delivery.

Adani Ports and Special Economic Zone said that its board at the meeting held on Tuesday approved raising of up to $1.25 billion via issue of dollar denominated foreign currency bonds. The proceeds of the bonds will be used to repay its existing indebtedness and/or the indebtedness of its subsidiaries and other permissible end uses in accordance with applicable laws including Reserve Bank of India guidelines.

Shares of Adani Ports lost 1.27% to Rs 341.60. The stock has lost 5.2% in three sessions while the S&P BSE 100 index has gained 2% during the same period.

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