Market trades around 39,000, Nifty flat; DHFL falls 17%
Shares of Dewan Housing Finance Ltd (DHFL) fell up to 17 percent intraday on May 22 after the company announced that it has stopped accepting fresh public deposits and renewals of existing deposits with immediate effect. Benchmark indices opened flat to positive on May 22 ahead of Lok Sabha Election 2019 counting on May 23.
At 09:16 hrs IST, the Sensex is down 14.55 points at 38955.25, while Nifty is down 23.10 points at 11686. About 368 shares have advanced, 237 shares declined, and 38 shares are unchanged.
DHFL, Tech Mahindra, JSPL, Indiabulls Housing, Yes Bank, ITC, HUL, IndusInd Bank and HUL are among major gainers, while losers are BPCL, IOC, ICICI Bank, Bajaj Auto, Britannia, HDFC Bank, and Kotak Mahindra Bank.
Among the sectors, IT, metal, FMCG and auto indices are trading with marginal loss, while energy, infra, and pharma are trading higher. Benchmark indices are trading higher in the pre-opening session on May 22 with Nifty above 11,750.
At 09:01 hrs IST, the Sensex is up 136.74 points or 0.35% at 39106.54, and the Nifty up 63.40 points or 0.54% at 11772.50. Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 12 points or 0.10 percent. Nifty futures were trading around 11,738.50-level on the Singaporean Exchange. Shares of technology companies helped push Wall Street forward on Tuesday after the United States temporarily eased curbs on China's Huawei Technologies Co Ltd, alleviating investor concerns about pressure on future corporate results in the sector.source- money control
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