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Sify Editor @ 3:55 AM
Weaker macro-data results in Sensex shedding 170 points, NSE Nifty down by 40 points
Weaker macro-data resulted in a tepid response on D-street. The BSE Sensex ended Wednesday 174.95 points in the red at 33053.04, while the NSE Nifty ended 47.20 points or 0.46% in the red at 10192.95. Weak macro-economic data, released by the government, was one of the reasons for a slack in the trade on Wednesday.
On Tuesday, government released macro-economic data in post-market hours that showed November' inflation rise by a 15 month high of 4.88%, far above the RBI median average of 4 percent. October' industrial outlook growth decelerated to 2.2%, a 3 month low.
On the thirty scrip sensitive index- BSE Sensex, only five stocks were trading in the positive. Kotak Bank (up by 1.43%), TCS (0.68%), ONGC (0.44%), Dr Reddy (0.23%), and Hindustan Unilever (0.12%) were the stocks in positive. Cipla (down by 2.13%), and Adani Ports (1.97%) were the top losers in the trade.
Sify Editor @ 10:25 AM
BSE initiates IBC proceedings against seven companies
Stock exchange major BSE on Tuesday filed proceedings under the Insolvency and Bankruptcy Code (IBC) 2016 against seven listed companies for failing to pay the "Annual Listing Fees" (ALF) in spite of "advance intimation, reminders and grant of sufficient time in the past few years".
According to the BSE, there are about 130 companies which have failed to pay ALF and continue to be listed and traded on its platforms.
"In the interest of investors who may be trading in such companies, it has become incumbent to initiate action against such listed companies defaulting in payment of listing fees, under the Insolvency and Bankruptcy Code, 2016," the BSE said in a statement.
Sify Editor @ 9:35 AM
The Sensex open in red
The Sensex on Wednesday opened on a negative note during the morning session of the trade.
The Sensex of the BSE after opening at 33,229.73 points touched a high of 33,248.92 and low of 33,123.44 points.
On Tuesday the Sensex closed at 33,227.99 points.
The Sensex is trading at 33,179.21 points down by 53.56 points or 0.16 per cent.
On the other hand, the broader 51-scrip Nifty at the National Stock Exchange (NSE) opened at 10,236.60 points after closing at 10,240.15 points.