Share Market News Today | Sensex, Nifty, Share Prices Highlights: Sensex and Nifty recouped intra-day losses and closed at record closing levels after having set new all-time high during the day. Broader markets outperformed benchmarks.
Overhangs on the sector’s performance now seem to have reduced and with the preliminary recovery in economic indicators the outlook is now better than where it was a few months back.
Share Market News Today | Sensex, Nifty, Share Prices Highlights: Sensex and Nifty ended at record high closing levels on Wednesday. S&P BSE Sensex ended with 44,180 mark while the 50-stock NSE Nifty was closed above the 12,900 levels. Among the top gainers on Sensex were Mahindra & Mahindra, L&T, and IndusInd Bank. For a good part of the day, Sensex traded with losses and recouped all intraday losses post lunch. HUL, ITC, and Titan were the top drags. With this, Sensex and Nifty have now jumped over 11% each in November so far.
The Reserve Bank of India placed Lakshmi Vilas Bank under a one-month moratorium and initiated a merger of the Chennai-based lender with DBS Bank India on Tuesday. The troubled lender was under stress for a long time now and RBI’s decision comes as it said there was no credible revival plan. The proposed merger with DBS will include a capital infusion of Rs 2,500 crore into Lakshmi Vilas Bank. According to the Draft scheme of Amalgamation, the entire amount of the paid-up share capital of Lakshmi Vilas Bank will be written off.