Indian Indices End Marginally Lower; Realty & Power Stocks Witness Losses

After witnessing volatile trades during the day, Indian share markets ended their session marginally lower. Losses were largely seen in the realty sectorpower sector, and healthcare sector, while energy stocks ended the day higher.

At the closing bell, the BSE Sensex stood lower by 73 points (down 0.2%) and the NSE Nifty closed lower by 25 points (down 0.2%). The BSE Mid Cap index ended the day down by 1.5%, while the BSE Small Cap index ended the day down by 1.4%.

Asian stock markets finished on a positive note as of the most recent closing prices. The Hang Seng was up 0.9% and the Nikkei stood higher by 0.4%.

The rupee was trading at 67.26 to the US$ at the time of writing.

From the automobile spaceEicher Motor share price was in focus today as the company reported its results for the quarter ended March 2018.

PC Jeweller share price was also in focus today. The stock of the company witnessed buying interest ahead of its board meet on Friday on a share buyback proposal.

In the news from IPO space, the initial public offer (IPO) of non-banking finance company (NBFC), IndoStar Capital Finance was subscribed around 46% during noontime today – the second day of its bidding process.

Indostar Capital Finance is a non-banking finance company (NBFC) registered with the Reserve Bank of India as a systemically important non-deposit taking company.

It is primarily engaged in providing structured term financing solutions to corporates and to SME borrowers in India. It recently expanded its portfolio to offer vehicle finance and housing finance products.

The IPO comprises fresh issuance of shares worth Rs 7 billion, besides, an offer-for-sale involving up to 20 million shares.

Proceeds of the fresh issue will be used to augment capital base to meet future capital requirements.

The promoters and the existing shareholders will dilute up to 30% of their ownership through the public issue.

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