Nifty struggles at 2700; IT, CG, bank, NTPC weak

Nifty struggles at 2700; IT, CG, bank, NTPC weak

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The benchmark indices are trading lower amid volatility. Sell-off is seeing in technology, power, capital goods, metal, banking and power stocks as well as in Bharti Airtel. Midcap and small cap stocks are also reeling under pressure. On the global front, Asian markets are weak; Nikkei lost nearly 3% and Kospi fell 2%. Straits Times, Shanghai and Hang Seng fell marginally.

The Sensex is trading below 8800 level, down 89 points to 8,724, at 10:30 hours IST. The Nifty slipped 28 points to 2,685. BSE Midcap Index lost over 1.4% and Small cap Index fell nearly 1%.

Indian Stock Market

Nifty tests 2750: metal, realty, bank, power, CG, O&G drop

Nifty tests 2750: metal, realty, bank, power, CG, O&G drop

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The bleeding continues in the benchmark indices - the Nifty broke 2750 level and the Sensex is just managing to stand above 9000 mark. Metal, Realty, Bankex, Power, Capital Goods and Oil & Gas indices plunged 3.8-5.8%.

Indian Stock Market

Canara Bank's executive director post in vacant

Canara Bank's executive director post in vacant

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D L Rawal, executive director of the Canara Bank has been appointed as chairman & managing director of Dena Bank by the Government of India recently. Hence, the post of executive director of Canara Bank has fallen vacant on 01 January 2009.

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State Bank of Bikaner & Jaipur appoints director

State Bank of Bikaner & Jaipur appoints director

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State Bank of Bikaner & Jaipur has announced that R Sridharan, deputy managing director & GE (A&S) has taken over as director of the bank with effect from 29 November 2008.

The company made this announcement after the trading hours on Monday, 08 December 2008.

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SBI signs joint venture agreement with Insurance Australia Group

SBI signs joint venture agreement with Insurance Australia Group

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State Bank of India has signed a joint venture agreement with Insurance Australia Group to form a joint venture company which will be engaged in general insurance business in India. The formation of the company will be subject to receipt of necessary regulatory clearances / approvals, SBI and IAG, subject to regulatory approval, will hold 74% and 26% respectively of the equity in the new company.

The company made this announcement during the trading hours today, 24 November 2008.

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Bank of Baroda to convene EGM

Bank of Baroda to convene EGM

The extraordinary general meeting of Bank of Baroda will be held on 23 December 2008.

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