Sensex trades weak, Nifty holds 9200; ICICI Bank down 2%

Epic Update ICICI Bank
Epic Update ICICI Bank

Equity benchmarks continued to be in the red zone, holding on to its losses though as the focus completely shifted towards the outcome of RBI’s policy meet.

The Sensex was down 129.17 points at 29845.07, while the Nifty was down 39.30 points at 9225.85. 
About 1,233 shares advanced against a decline of 1,408 shares, while 133 shares were unchanged.

ICICI Bank, Coal India and Hindalco were among the top losers on both indices, while BHEL, Bajaj Auto and Reliance were the top gainers.

Shares of Jindal Steel & Power (JSPL) added 5 percent intraday Thursday as the company has recorded highest ever production and sales in FY17.

The company’s FY 2016-17 production and sales was over 4.8 million tonne.

The Oman subsidiary, Jindal Shadeed Oman, clocked highest ever production and sales, by recording an over 20 percent rise in production and over 17 percent rise in sales.

Shares of Reliance Defence and Engineering added 3.4 percent intraday Thursday as the company is going to consider rights issue up to Rs 1200 crore.

The company’s board meeting will be held on April 11, to consider and approve the standalone and consolidated audited financial results for the quarter and financial year ended March 31, 2017.

The board will also consider to revalidate and approve the rights issue of equity shares upto Rs 1200 crore, which was approved at the board meeting held on April 22, 2016.
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