Nifty rangebound; SBI gains on likely capital infusion
Most active shares on exchanges were State Bank of India, United Spirits, Hindustan Copper, Jet Airways, L&T Finance, Axis Bank and Bharti Airtel.
Mumbai: The BSE Sensex continued to consolidate around its previous closing values. Investors are not keen to take big positions on either side as the Parliament adjourned till afternoon on the first day itself. The 30-share BSE benchmark gained 35.5 points at 18,495.87 while the 50-share NSE benchmark rose 5 points to 5,619.90.
Banking Secretary said the State Bank of India would get funds under capital infusion plan. "We will announce capital infusion plan for PSU banks this week," he added. According to him, the government is also considering the option of rights issue by PSU banks. The stock was up 1.76 per cent.
Private sector lender HDFC Bank, engineering conglomerate Larsen & Toubro and top telecom operator Bharti Airtel were up over 0.8 per cent. Shares of HDFC, Mahindra & Mahindra, Maruti, Tata Steel, Bajaj Auto and Sterlite Industries gained 0.3-0.6 per cent.
Infosys, India's second largest software services exporter extended gains to 1 per cent whereas its rival TCS declined 0.36 per cent. Index heavyweight Reliance Industries fell 0.7 per cent while healthcare firm Sun Pharma and commercial vehicle major Tata Motors were down over 1 per cent. Most active shares on exchanges were State Bank of India, United Spirits, Hindustan Copper, Jet Airways, L&T Finance, Axis Bank and Bharti Airtel.