Domestic indices were trading higher on Monday. The BSE Sensex rose 139.9 pts or 0.24% to 59,275.03 and NSE Nifty 50 jumped 42.25 pts or 0.24% to 17,455.15. Bank Nifty climbed 91.25 pts or 0.23% to 40,576.70. The top gainers on Nifty 50 were Kotak Bank (up 1.30%), Bank of Baroda (up 0.95%), HDFC Bank (up 0.76%), ICICI Bank (up 0.67%) and State Bank of India (up 0.37%) while IndusInd Bank (down 4.39%), AU Bank (down 2.03%), IDFC First Bank (down 0.62%), Federal Bank (down 0.60%) and Bandhan Bank (down 0.36%).
Yes Bank shares fell sharply in trade on Monday, down 8% to Rs 14.4 as the three-year lock-in period, since 13 March 2020, expired, allowing private lenders and retail investors to sell their shares today onwards. Last week, the lock-in period for SBI, which was mandated not to decrease its holding below 26%, ended. The SBI-led consortium had infused Rs 10,000 crore in Yes Bank to help it meet liquidity, capital and other critical parameters.
Sectoral Indices
The sectoral indices were trading mixed. Bank Nifty rose 0.23%, PSU Bank jumped 0.29%, Nifty IT was up 0.55%, Nifty Auto was down 0.78%, Nifty FMCG was down 0.25% while Nifty Pharma fell 0.39%.
Asian and US stock markets
Asian markets were trading mixed with China’s Shanghai Composite Index rising 0.25%, Hong Kong’s Hang Seng climbing 0.62% while Japan’s Nikkei 225 falling 1.63% and South Korea’s KOSPI dipping 0.70%.
The US market ended Friday’s session in the red territory with Dow Jones Industrial Average falling 1.07%, S&P 500 dipping 1.45% and the tech-heavy Nasdaq dropping 1.46%.
FII and DII data
Foreign institutional investors (FII) sold shares worth a net Rs 2,061.47 crore, while domestic institutional investors (DII) bought equities worth a net Rs 1,350.13 crore on 10 March, according to the provisional data available on the NSE.
NSE F&O Ban
The National Stock Exchange has put GNFC and Balrampur Chini on its F&O ban list for 13 March. According to the NSE, stocks are prohibited in the F&O sector when they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.