HDFC, State Bank of India, Bajaj Auto and Bank of Baroda are among the other losers in the BSE's 'A' group today, 2 January 2017.
LIC Housing Finance dropped 5.14% to Rs 530.70 at 12:45 IST. The stock topped the losers in the BSE's 'A' group. On the BSE, 3.82 lakh shares were traded on the counter so far as against the average daily volumes of 1.03 lakh shares in the past two weeks.
HDFC declined 3.48% at Rs 1,218.50. The stock was the second biggest loser in 'A' group. On the BSE, 1.35 lakh shares were traded on the counter so far as against the average daily volumes of 1.06 lakh shares in the past two weeks.
State Bank of India (SBI) shed 2.44% to Rs 243.65. The stock was the third biggest loser in 'A' group. On the BSE, 15.35 lakh shares were traded on the counter so far as against the average daily volumes of 11.33 lakh shares in the past two weeks.
SBI has reportedly cut its marginal cost of lending rate, or MCLR, by 90 basis points across all maturities. The country's largest bank has reduced its key one-year benchmark MCLR to 8% per annum. The one-year benchmark is used for pricing home and car loans. Loans are provided to borrowers at 35 basis points over the MCLR. SBI's new rates were effective from 1 January 2017.
Bajaj Auto declined 2.12% at Rs 2,578. The stock was the fourth biggest loser in 'A' group. On the BSE, 21,000 shares were traded on the counter so far as against the average daily volumes of 12,000 shares in the past two weeks.
Bajaj Auto announced that total sales fell 22% to 2.25 lakh units in December 2016 over December 2015. Domestic sales dropped 17% to 1.19 lakh units in December 2016 over December 2015. Exports fell 27% to 1.05 lakh units in December 2016 over December 2015. The company announced the monthly sales volume data for December during market hours today, 2 January 2017.
Bank of Baroda fell 2.1% to Rs 149. The stock was the fifth biggest loser in 'A' group. On the BSE, 3.41 lakh shares were traded on the counter so far as against the average daily volumes of 7.96 lakh shares in the past two weeks.
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