Sensex slips 180 points on profit booking, oil recovers
The benchmark Sensex slid 180 points as crude oil prices recovered and investors booked profits in banking, PSU and oil & gas sector stocks. The absence of fresh triggers and cautious sentiment before the expiry of monthly derivative contracts on Thursday and the release of GDP data on Friday also weighed on sentiment, traders said. ICICI Bank, ITC, HDFC and Reliance Industries dragged the Sensex lower. Bharti Airtel and Coal India were among the biggest losers on the index. The 30-share S&P BSE Sensex resumed steady at 20,604.27 and then declined to 20,390.62. It ended at 20,425.02, down 180.06 points or 0.87%. The CNX Nifty on the National Stock Exchange fell 56.25 points, or 0.92%, to end at 6,059.10. The SX40 index on the MCX Stock Exchange closed 106.90 points lower at 12,124.35. The market may remain volatile as traders roll over positions in the futures & options segment from the November 2013 series to the December 2013 series.
NSE, BSE to shift scrips
to ‘T’ group from Nov 29
The BSE and NSE will transfer stocks of several companies, including Shalimar Paints and Supreme Infrastructure India, to the restricted trade category from Friday. The move is part of a surveillance review to safeguard the interests of investors in the capital market. The BSE will shift 64 securities to the trade-for-trade or ‘T’ group, while the National Stock Exchange will transfer 35 stocks to this segment from November 29, the exchanges said in separate circulars. Stocks being shifted to the ‘T’ group on both exchanges include BF Utilities Ltd, Career Point and Peacock Industries. In the trade-for-trade segment, no speculative trading is allowed and delivery of shares and payment of consideration are mandatory.
Bhushan takes charge as Sebi executive director
Market regulator Sebi said Gyan Bhushan has taken charge as executive director. Prior to this assignment, he was chief general manager at Sebi. “Gyan Bhushan took charge as executive director, Sebi in Mumbai,” the Securities and Exchange Board of India (Sebi) said in a statement. He has also worked in various capacities in the ministry of finance and planning commission. He earlier worked in the Pension Fund Regulatory and Development Authority (PFRDA) and was part of the core team, which was instrumental in setting up the defined contribution based pension system in the country for civil servants and unorganised sector workers.
‘Current market good