HDFC Bank market cap sails past Reliance Inds on FII buying
Feb 18 2017
The aggregate foreign shareholding through ADR/GDR/FIIs/FPIs/FDI/NRIs/PIOs in HDFC Bank Ltd. have gone below the prescribed limit stipulated under the extant FDI Policy, RBI said in a notification. The Indian rupee falls against the United States dollar, while the Asian markets trade mixed.
The BSE market breadth was skewed in favour of the bears - with 2,169 declines and 664 advances. Foreign shareholding in HDFC Bank dropped to 72 percent, thereby giving FIIs a chance to acquire a further 2 percent in the stock.
Healthcare stocks gained sharply, with shares of Sun Pharma bounced back rising over 4 per cent, on value buying and its subsidiary receiving approval for Tobramycin from the European Medicines Agency.
Among the 19 sector-specific indices of the BSE, only the FMCG index closed in the green with marginal gains of 6.69 points.
Globally, Asia and Europe traded lower after Wall Street's Trump-fuelled surge finally came to an end. Brokers said that apart from profit-booking in recent gainers by investors, disappointing earnings by some bluechips companies like Tata Motors and Sun Pharma dampened sentiment.
BSE Sensex opens higher on Thursday morning, while the broader Nifty, too, rises.
Oil marketing company Indian Oil Corp. gained 2.3% to 384.50 rupees on news the company will be included in the Nifty 50, Bharat Heavy Electricals ended down 0.1% at 153.40 rupees and Idea Cellular fell 1.7% to 106 rupees, as both would be excluded from the index, effective March 31.
Europe too was higher in early trading, with London's FTSE climbing 0.4 per cent and Paris 0.3 per cent and Frankfurt gaining.
On Tuesday, the NSE Nifty fell by 12.75 points or 0.14 per cent to 8,792.30 points, and the BSE Sensex closed 12.31 points, or 0.04 per cent down at 28,339.31 points.
However, TCS fell by 1.58 per cent, Hero MotoCorp 1.29 per cent, Infosys 1.21 per cent, Wipro 1.10 per cent, Asian Paints 0.91 per cent and Maruti 0.63 per cent.
Japan's Nikkei fell 0.58 per cent, Hong Kong's Hang Seng shed 0.31 per cent and Shanghai composite declined 0.85 per cent.