Nifty around 11,900, market trades lower; Adani Ports gains 3% post-Q4 nos
Reliance Capital will sell its entire shareholding in Reliance Nippon Life Asset Management. The entire Reliance Nippon Life Asset Management stake monetization proceeds of around Rs 6,000 crore to be received from the Offer for Sale and the already announced transaction with Nippon Life Insurance Company of Japan will be utilized to reduce Reliance Capital’s outstanding debt, Shares of Time Technoplast surged more than 7 percent on May 28 after the company reported strong earnings for the quarter ended March 2019. Indian indices are trading flat with marginal gains.
Yes, Bank, JSW Steel, Vedanta, Coal India, and Hindalco Industries are the top gainers on the Nifty, while losers are Bharti Infratel, HDFC, Grasim Industries, L&T, and Kotak Mahindra Bank. Shares of Adani Ports and Special Economic Zone gained 3.6 percent in the early trade on May 28 after the company posted strong numbers for the quarter ended March 2019. It is a flat start for the Indian indices on May 28.
At 09:18 hrs IST, the Sensex is up 38.88 points at 39722.17, while Nifty is up 16.60 points at 11941.40. About 633 shares have advanced, 272 shares declined, and 45 shares are unchanged.
Yes Bank, Gail India, Adani Port, Zee Entertainment, Coal India, Asian Paints, SBI and Kotak Mahindra Bank are some of the major gainers in the early trade, while losers are Emami, HPCL and IOC.
Among sectors, FMCG and PSU bank index is under pressure, while buying seen in the metal, auto, infra, and pharma.
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