The BSE Sensex was trading over 300 points down at 25,720 in early trade on Wednesday, while NSE Nifty was trading down 81 points at 7,799. At 9.59 am, Sensex was down 130.09 points at 25,902.29. Similarly, Nifty was down 24.90 points at 7,855.80 during the same time.
Below are the stocks that are likely to be in focus
Banking stocks: Bank stocks of SBI, IOB, UBI will be in focus today after government may infuse funds into these banks. SBI said it will issue equity shares on preferential basis to the government for capital infusion of Rs 5,393 crore.
IOC: State-owned Indian Oil Corp (IOC) has signed an agreement with Nepal Oil Corp (NOC) to lay a Rs 275-crore oil pipeline from Raxaul in Bihar to Amlekhgunj in Nepal.
Jindal Steel and Power Ltd (JSPL): Jindal Steel and Power Ltd (JSPL) will seek shareholders’ nod for raising up to Rs 15,000 crore via securities for loan refinancing and capital expenditure.
Dabur India: Dabur India shares will be in focus after reports said that US FDA has issued import alert to company’s Alwar Unit. Dabur India on Tuesday said that USFDA had not put any restriction on import and sale in the US, of products manufactured at its Alwar unit.