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Sensex, Nifty trade in narrow band

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Key benchmarks held on to gains in a narrow trading range in mid-morning trade. At 11:20 IST, the S&P BSE Sensex was up 89.99 points or 0.23% at 39,864.66. The index was up 21.20 points or 0.18% at 11,943.45.

The market breadth was negative. On NSE, 694 shares advanced and 961 shares declined. A total of 435 shares were unchanged.

Shares of all listed Group tumbled after alleged Housing Finance (IHFL) for misappropriating Rs 98,000 crore of public money.

Real Estate was down 4.82%, was down 5.27% and was down 5.57%.

According to reports, a Writ Petition was filed in against Sameer Gehlaut, of Indiabulls group, allegedly siphoning off Rs 98,000 crore from IHFL clarified after market hours on Monday that the Writ Petition was filed on Monday and is not heard by the court. Further, the total loans on the books of Indiabulls Housing Finance are approximately Rs 90000 crore. The company also stated that allegation of siphoning off of Rs 98000 crore is bizarre. The company added that blackmailers had been trying to extort money from the company and threatened them to write complaints to various government departments alleging siphoning off of Rs 55,000 crore if extortion money of Rs 10 crore was not paid to them.

Realty stocks were trading lower. (down 6.09%), Estate (down 4.98%), D B Realty(down 4.52%), Housing Development and Infrastructure (down 1.79%), (down 1.38%), (down 1.16%), Unitech (down 0.85%), (down 0.77%), (down 0.71%), (down 0.69%) and (down 0.07%), decreased. While, DLF (up 0.32%), (up 1.07%) and Sobha (up 3.9%) increased.

advanced. (up 2.27%), (up 1.63%), (up 1.63%), (up 1.24%), NMDC (up 1.1%), (up 0.68%), (up 0.66%), (up 0.35%) and (up 0.12%), edged higher. was down 0.37%

gained 4.19% after the company announced global partnership with and to deliver The announcement was made after market hours yesterday, 10 June 2019.

Share price of rose 2.10%. The company announced that the (NCLT), on 10 June 2019 sanctioned the Composite Scheme of Arrangement among Bharat Hnandal Inclusion, Induslnd Bank, Induslnd Financial Inclusion and their respective Shareholders and Creditors. The scheme will come into effect upon filing certified copy of the order with the of and the certified copy of the order is awaited.

Eveready Industries fell by 2.36% after the company announced that a rating agency has downgraded the company's long term credit rating. The announcement was made after market hours yesterday, 10 June 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, June 11 2019. 11:28 IST
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