Stock Market Extends Losses For The Second Day; Yes Bank Gains

Benchmark indices dragged by heavyweight stocks including RIL and HDFC Bank ended the session lower with Sensex ending the day down by 81.4 points or 0.44% at 41461.26 , while Nifty closed at 12212, down 50.75 points or 0.41%.

Stock Market Extends Losses For The Second Day; Yes Bank Gains

Public sector banking stocks have been trading with losses after Maharashtra govt. on December 21 announced a loan waiver package of up to Rs. 2 lakh for farmer community. The move is said to impact banks considerably. Nifty PSU Bank index corrected as much as 1.34%. In the previous session also the index fell over 1%.

Yes Bank however gained as much as 4.7% to Rs. 52 per share after reports suggested that some of the bigger European entities chiefly from the financial industry have expressed interest in the bank and can invest up to $1 billion, if the RBI approves of their proposal.

IFCI shares also gained as much as 12% on December after the company divested 2.4% holding in NSE. The company from the sale has garnered a sum of Rs. 805.6 crore.

Mid-sized IT firm Niit Technolgoies after announcing share buyback offer after market hours on Monday traded with gains of 3% in today's session.

Shares of Dishman Carbogen fell for the sixth-straight session amid reports that the Income tax department performed a day long search and survey operation at the premises of the company's properties on December 19.

Asian stocks as well as US stock futures fluctuated between gains and losses on Tuesday amid muted trade on account of holiday. Meanwhile, in most other countries either the stock markets are shut or set for an early close due to Christmas festivities.

Rupee also traded almost flat at 71.19 per US dollar.

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