Market Update - Equity benchmarks remained under pressure. The Sensex
fell 122.01 points to 26913.84 and the Nifty declined 32.15 points to
8145.25.
About 1141 shares have advanced, 1032 shares declined, and 94 shares
are unchanged on the BSE.
Market Check - The market declined marginally in morning trade with the
Sensex falling 115.18 points to 26920.67 and the Nifty slipping 30.90
points to 8146.50. Banking & financials dragged the market while
metals, technology and pharma stocks gained. The broader markets were
also marginally under pressure.
Shares
of ITC, ICICI Bank, HDFC Bank, Lupin, Reliance Industries, L&T,
Axis Bank and Bharti Airtel were down 0.9-1.8 percent.
Tata
Steel, Vedanta and Hindalco Industries topped the buying list on
Sensex, up 2-2.7 percent.
Buzzing- Shares of 3i Infotech climbed more than 8 percent intraday
after allotting preference shares to DBS Bank as per corporate debt
restructuring (CDR) plan.
"Pursuant
to terms of master restructuring agreement between CDR lenders and 3i
Infotech, the company has allotted 1,69,70,618 equity shares at a
conversion price of Rs 19.74 on a preferential basis to DBS Bank on
October 7," the IT company said in its filing. Additionally, on
October 6, 3i Infotech also allotted 40,016 equity shares against
conversion of the FCCBs of principal amount of USD 13,000.
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