• April 25, 2024

Markets decline in early trade; Kotak Mahindra Bank tanks over 12%

Markets decline in early trade; Kotak Mahindra Bank tanks over 12%
Share

Image used for representative purpose only
| Photo Credit: Reuters

Equity benchmark indices declined in early trade on April 25, giving up their gains of last four days, amid heavy selling in Kotak Mahindra Bank and foreign fund outflows.

The 30-share BSE Sensex declined 296.79 points to 73,556.15. The NSE Nifty dipped 97.15 points to 22,305.25.

From the Sensex basket, Kotak Mahindra Bank tanked over 12% after the RBI barred the company from onboarding customers online and issuing credit cards.

Cracking down on repeated non-compliance of IT norms, the RBI on Wednesday barred Kotak Mahindra Bank from onboarding new customers through its online and mobile banking channels and issuing fresh credit cards with immediate effect after the regulator found “serious deficiencies” in the lender’s IT risk management.

Hindustan Unilever, Asian Paints, Titan, Maruti and Mahindra & Mahindra were the other major laggards.

Axis Bank, Sun Pharma, Nestle and State Bank of India were among the gainers.

In the last four days, the BSE benchmark climbed 1,363.95 points or 1.88%.

In Asian markets, Seoul and Tokyo were quoting lower while Shanghai and Hong Kong traded in the positive territory.

Wall Street ended on a mixed note on Wednesday.

Global oil benchmark Brent crude climbed 0.02% to USD 88.04 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,511.74 crore on Wednesday, according to exchange data.

The BSE benchmark climbed 114.49 points or 0.16% to settle at 73,852.94 on Wednesday. The NSE Nifty advanced 34.40 points or 0.15% to 22,402.40.



Source


Share

Related post

Markets trade lower in early deals on profit-taking in blue-chip stocks, foreign fund outflows

Markets trade lower in early deals on profit-taking…

Share A view of the Bombay Stock Exchange in Mumbai. File | Photo Credit: AP Benchmark indices Sensex…
कंपनी के मजबूत तिमाही नतीजे की बदौलत 500 अंक उछलकर बंद हुआ सेंसेक्स, निफ्टी में भी उछाल

कंपनी के मजबूत तिमाही नतीजे की बदौलत 500…

Share Stock Market Today: ग्लोबल मार्केट में मजबूती के बीच घरेलू शेयर बाजार में भी बुधवार को तेजी…
शेयर बाजार लगातार चौथे दिन गिरावट के साथ हुआ बंद, 247 अंक लुढ़का सेंसेक्स, दबाव में IT शेयर

शेयर बाजार लगातार चौथे दिन गिरावट के साथ…

Share Stock Market Today: शेयर बाजार लगातार चौथे दिन गिरावट के साथ सोमवार 14 जुलाई 2025 को बंद…