Indian benchmark equity indices snapped their seven days gaining streak on Thursday amid profit booking by investors after recent sharp gains triggered by negative cues from Asian markets.
The BSE Sensex fell 132.04 points or 0.19 per cent to settle at 69,521.69. The NSE Nifty also fell 36.55 points or 0.17 per cent to close at 20,901.15.
“Market may take breather before the next leg of rally. Domestically, all eyes will be on RBI policy outcome that is schedule on Friday. Its commentary would hold importance with regards to interest rate movement. Globally as well investors await key US Nonfarm payroll and unemployment rate data that will be released on Friday and will be important for US fed’s decision making. Overall, the undertone of the market remains positive over medium to long term given the return of FIIs, strong macro data and healthy corporate earnings,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Top Stocks To Watch On 8 December:
Japan’s Softbank is expected to sell a 1.1 per cent stake in Zomato worth $135 million or Rs 1,127.5 crore through a block deal, CNBC-TV18 reported citing sources. The shares will be sold at Rs 120.50 per share, a discount of 1.1 per cent to Zomato’s Thursday closing price of Rs 121.80 on the BSE.
Maruti Suzuki India
The country’s largest car manufacturer has received an order for dropping a show-cause notice issued by the Gujarat Goods and Services Tax (GST) Authority in September, demanding Rs 1.79 crore for the period of July 2017 to March 2018 on account of the reconciliation of tax returns filed by the company.
Container Corporation of India
Container Corporation of India (CONCOR) and NTPC Vidyut Vyapar Nigam have signed a Memorandum of Understanding (MoU) to explore the possibility of setting up PV Solar renewable energy projects in CONCOR terminals, the company said in a regulatory filing. The aim is to promote sustainable and eco-friendly renewable solar energy.
The Securities Appellate Tribunal (SAT) has overturned a SEBI order restricting IIFL Securities from acquiring new clients. The tribunal also lowered the penalty from SEBI’s initial fine of Rs 1 crore to Rs 20 crore.
IDFC First Bank
Dayside Investment, an affiliate of US-based private equity firm Warburg Pincus, on Thursday sold a 1.3 per cent stake in IDFC First bank through an open market transaction for Rs 70 crore.