Share Market News Today | Sensex, Nifty, Share Prices LIVE: Following the sell-off in the final hour of trading, domestic equity market benchmarks Sensex and Nifty ended nearly a per cent lower on Wednesday dragged by RIL, Infosys, ICICI Bank and HDFC. Sensex slipped below its crucial 40,000 mark while Nifty traded below psychological level of 11,700 in the last hour of today’s trade. S&P BSE Sensex ended 390 points or 0.97 per cent lower at 39.891, while the broader Nifty 50 index settled at 11,683, down 115 points or 0.97 per cent. At index level, as many as 27 out of 30 Sensex stocks were trading in red. Sun Pharma was the top laggard, down 3.67 per cent, followed by Maruti, LT, Infosys and RIL. Conversely, SBI was the top Sensex gainer with a growth of half a per cent, followed by HDFC Bank and HCL Tech. All the sectoral indices ended red today. Nifty Auto and Nifty Metal index were the top sectoral losers, down 2.15 per cent and 1.63 per cent respectively. Nifty FMCG index too ended lower dragged by Mc Dowell, Godrej Consumer Properties and ITC. In the broader market, the S&P BSE MidCap index dropped 215 points, or 1.4 per cent, and the S&P BSE SmallCap index was down 120 points, or 0.83 per cent.
With a strong backing in the form of State Bank of India, SBI Cards has strong financials and capabilities to cruise through risks with experienced management. SBI Bank has a 74 per cent shareholding in the company which will fall to 69 per cent after the IPO. The biggest lender in the country, SBI, is one of the biggest factors that has aided SBI Cards. “Nonetheless, its healthy financials, rising market share and first-mover advantage (first company to list from the credit card industry) are the key positives which could help the IPO garner good response from investors,” Ajit Mishra of Religare Broking said.