Both the Nifty50 and Sensex closed 0.5 percent lower at 17618.15 and 59126.36 respectively. Heavy losses in the financial services and information technology stocks dragged the indices lower.
Indian Overseas Bank | The stock was locked in its 20 percent upper circuit for a large part of the session today, but ended off its day's high at Rs 22.90, up 11.7 percent. Today's surge was because the Reserve Bank of India has removed the lender from the PCA (prompt corrective action) framework.
Birla Corporation | The scrip ended 6 percent higher after the company said it will increase its annual cement production capacity to 30 million tonnes by 2027 as compared to its earlier target of raising production capacity to 25 million tonnes by 2025.
Nifty Realty | The sectoral index gained the most, ending 1.5 percent higher. DLF, Oberoi Realty and Brigade Enterprises contributed the most to the gains in the index. These ended over 1-4 percent higher.
IndusInd Bank | Shares of the lender had risen earlier in trade today but failed to hold on to the gains and ended nearly 1 percent lower. The bank has acquired 4.79 percent stake in the embattled tea plantation company McLeod Russel India by invoking 50 lakh pledged shares of the company. (Image: Company)
Persistent Systems | The stock ended 5 percent higher as the company will acquire Software Corporation International and its affiliate, Fusion360, along with Shree Partners and its Indian subsidiary.