Sensex Ends 186 Points Higher; Energy And Power Stocks Witness Buying

Indian share markets witnessed buying interest during closing hours today and ended their day on a positive note.

At the closing bell, the BSE Sensex stood higher by 186 points (up 0.5%) and the NSE Nifty closed higher by 56 points (up 0.5%).

The BSE Mid Cap index ended down by 0.1%, while the BSE Small Cap index ended the day up by 0.3%.

On the sectoral front, gains were seen in the energy sector and power sector. Metal sector and automobiles sector, on the other hand, witnessed selling.

Asian stock markets finished on a positive note as of the most recent closing prices. The Hang Seng stood up by 0.57% and the Nikkei was trading up by 0.11%, while the Shanghai Composite was trading flat.

European markets were also trading on a positive note. The FTSE 100 was up by 0.39%. The DAX was trading up by 0.82%, while the CAC 40 was trading up by 0.28%.

The rupee was trading at 70.91 to US$ at the time of writing.

In the news from the IPO space, Kerala-based private sector lender CSB Bank, formerly known as Catholic Syrian Bank, has announced the launch of its initial public offering (IPO) worth nearly Rs 4.1 billion.

The IPO will hit the markets between 22-26 November and will be available at a price band of Rs 193-195 apiece.

The bids for the offer can be applied for a minimum of 75 shares and its multiples.

The proposed initial share sale will see the lender raise fresh capital worth Rs 240 million, while its existing shareholders, including ICICI Lombard General Insurance, HDFC Life Insurance, ICICI Prudential Life Insurance, The Federal Bank, Bridge India Fund, Satellite Multicomm, Way2Wealth Securities and Edelweiss Tokio Life Insurance, will sell 19.78 million shares for Rs 3.85 billion via the offer for sale route.

According to its red herring prospectus, the company will use the proceeds from the fresh issue during the current fiscal to augment the bank's tier-1 capital base and to meet its future capital requirements.

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Disclaimer: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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