Live stock Market Tips - Market falls 100 points, Nifty around 12,050; Yes Bank gains 2%
The rupee appreciated by 26 paise to 69.00 against the US dollar in the opening, but wiped out most of the gains to trade just 3 paise higher at 69.22 a dollar now. ICICI Bank and Axis Bank shares fell around a percent each intraday on June 4 after global rating agency Fitch downgraded both by a notch saying financial health of the private sector banks has weakened.
Airtel Africa, a subsidiary of Bharti Airtel proceed with an initial public offering for admission and listing of its shares on the main market of the London Stock Exchange.
The offer is targeted to raise USD 750 million (plus a primary greenshoe option of up to 15%) and will be used to reduce the net debt. Further, Airtel Africa is also considering a listing of its shares on the Nigerian Stock Exchange.
Gold climbed more than 1.5% on Monday to its highest level in more than three months on concerns that U.S.-Chinese trade tensions and Washington's threat of tariffs on Mexico would hurt the global economy. After hitting record highs in the previous session, it is a gap down opening for the Indian indices on June 4 with Nifty around 12,050.
At 09:16 hrs IST, the Sensex is down 132.09 points or 0.33% at 40135.53, and the Nifty down 37.30 points or 0.31% at 12051.20. About 300 shares have advanced, 325 shares declined, and 38 shares are unchanged.
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