Gold prices surged as much as 1.8% to their highest in more than five years
It is a weak start for the Indian indices on June 20 with Nifty around 11,650 level.
At 09:16 hrs IST, the Sensex is down 81.12 points or 0.21% at 39031.62, and the Nifty down 25.00 points or 0.21% at 11666.50. About 229 shares have advanced, 380 shares declined, and 36 shares are unchanged.
Axis Bank, Wipro, UPL, TCS, Infosys, Tech Mahindra, IRB Infra, Ashok Leyland, HCL Tech, Yes Bank, Britannia, and Maruti Suzuki are among major losers on the indices, while gainers were Indiabulls Housing, RIL ONGC, Eicher Motors, L&T and IOC.
The recent fall in share price is not linked to the company's current/expected performance. Company is committed to reducing debt by Rs 2,000 crore. IndusInd Bank and Bharat Financial Inclusion shares gained more than 2 percent on June 20 after both companies board members fixed July 4 as the record date for merger.
Indiabulls Housing Finance will conduct buyback of all its NCDs maturing in July & August and the aggregate amount outstanding under these NCDs is Rs 2,285 crore, reports CNBC-TV18.
Benchmark indices recovered from the day's low and trading flat.
At 09:42 hrs IST, the Sensex is down 1.52 points at 39,111.22, and the Nifty down 8 points at 11683.50. About 485 shares have advanced, 1001 shares declined, and 42 shares are unchanged.
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