For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Nifty ends lower as National Spot Exchange default worries investors

|
 Nifty ends lower as National Spot Exchange default worries
Markets which were trading sharply higher in morning trades, gave up gains as reports surfaced that the National Spot Exchange Ltd (NSEL) may default after suspending trading of all contracts, other then e-series.
 

The NSEL, is a commodity exchange (not to be confused with NSE) has blamed the government for the structural changes in precipitating the present crisis.

The Nifty ended the day lower by 14 points, as reports that several NSE/BSE brokers also offering services on the NSEL could be affected and the present crisis may find its way to the stock exchanges. Financial Technologies, which owns NSEL lost 65% in trade.

Among the stocks that gained despite the worries were Hindustan Unilever, which spiked 3per cent, after being hammered in the last few days. Joining HUL higher were HDFC, Jindal Steel and HDFC Bank.

Stocks that lost heavy ground were those from the oil and gas space including Reliance, ONGC and BPCL. Shares in India's largest real estate developer, DLF, dropped a whopping 7 per cent in trade.

Private sector banking names were steady after the sharp fall with ICICI Bank, IndusInd Bank and Yes Bank ending the day steady.

PSU Banking stocks were once again at the receiving end with most of them ending the day with sharp cuts. Notable losers from the space were Andhra Bank (down 8%), Oriental Bank (down 7%), and Bank of Baroda (down 6%).

Meanwhile, markets in Europe were trading higher, while most of Asia ended the day with gains, while Europe was trading with substantial gains of more then 1 per cent.

GoodReturns.in

Read more about: hdfc bank sensex nifty
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more