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The Indian benchmark indices are trading on a negative note with Nifty down 26 points at 11,838 while the Sensex shed 117 points and is trading at 39,569 level.Nifty Realty is down over 1.5 percent dragged by Godrej Properties which is down 10 percent followed by Indiabulls Real Estate, Unitech, Sunteck Realty and Sobha.From the pharma space, the top losers are Sun Pharma which is down over 2 percent followed by Lupin, Cadila Healthcare and Aurobindo Pharma.Close The top losers from the banking space are YES Bank which is down over 5 percent followed by ICICI Bank, IDFC First Bank and HDFC Bank. related news ITDC jumps 9% on merger with Kumarakruppa Frontier Nifty Bank marches toward record high on likely resolution of 4 NPA cases in December BGR Energy share price locked in 20% upper circuit on Rs 4,442-cr order win Nifty Energy is however up half a percent led by ONGC, BPCL, HPCL and Indian Oil Corporation.India VIX is up 0.07 … [Read more...] about Nifty Realty underperforms dragged by Godrej Properties; Tata Motors, YES Bank down 2-5%

Considered as a cash cow for India’s IT services companies for long, the banking and financial sector is gradually being weaned off the outsourcing model. The companies are now opting to build and maintain software in-house.With emerging technologies, such as blockchain, which are touted to play a pivotal role in the financial sector, bankers are keen to keep their cards close to their chest and cut reliance on third parties for technology. India still continues to be the preferred destination for technology hubs though. Many foreign banks have set up global in-house centres (GIC) in cities such as Mumbai, Bengaluru, and Chennai.The banking domain has been key to the fortunes of Indian IT companies, but the share of the finance vertical in their earnings has been on a downward spiral in the past couple of years.Close The share of revenue derived from the banking sector by Tata Consultancy Services (TCS), the largest IT company in the country, declined by 2.3 percentage … [Read more...] about Indian IT companies take a hit as foreign banks switch to in-house tech solutions

The Indian benchmark indices are trading on a negative note with Nifty down 34 points at 11,807 while the Sensex shed 115 points and is trading at 39,471 level.Nifty Metal is down over a percent dragged by Jindal Steel & Power, JSW Steel, Tata Steel, Vedanta and NALCO.However, the PSU Bank index is outperforming all other indices, which jumped close to 2 percent led by Central Bank of India and Union Bank of India which jumped over 6 percent each followed by Bank of India, Canara Bank, IDBI Bank, Punjab National Bank and Syndicate Bank.Close "There are talks of privatization in the financial sector, and there could be some announcements regarding the same in the upcoming budget and/or also outside the Budget, over the course of the year. The government has already provided recapitalization to some of the PSU banks, and gradually seems to be going in for consolidation within the sector," said Sampath Reddy, CIO at … [Read more...] about D-Street Buzz: PSU banks rally led by Union Bank; SBI hits record high, Bharti Infratel slips 2%

The Indian benchmark indices continues to trade on a negative note in this afternoon session with Nifty down 47 points at 11,794 while the Sensex shed 162 points and is trading at 39,423 level.Nifty Metal is down 1.5 percent dragged by Jindal Steel & Power, JSW Steel, Tata Steel, Vedanta, Coal India and NALCO.Oil & gas stocks are also weak, the top losers are ONGC and Reliance Industries which are down over 1 percent each.Close From the pharma space, the top losers are Aurobindo Pharma, GSK Pharma, Lupin, Dr Reddy's Jabs and Cipla. related news ITDC jumps 9% on merger with Kumarakruppa Frontier Nifty Bank marches toward record high on likely resolution of 4 NPA cases in December BGR Energy share price locked in 20% upper circuit on Rs 4,442-cr order win Selective IT stocks are trading in the red led by Mindtree, Tata Consultancy Services, Wipro and Birlasoft.PSU bank index continues to outperform all other indices led by Central … [Read more...] about D-Street Buzz: Over 200 stocks hit 52-week low on BSE; JSPL, YES Bank down 3-4%

Benchmark indices are trading on a positive note with Nifty up 29 points and is trading at 11,701 while the Sensex added 124 points and is trading at 39,085 level.Nifty Media is the outperforming sector, up over 1 percent led by Zee Entertainment, Dish TV, Network18, PVR, TV Today and Inox Leisure.From the banking space, the top gainers are ICICI Bank which jumped 2 percent followed by IndusInd Bank, RBL Bank and State Bank of India.Close India VIX is marginally down 0.14 percent at 14.63 levels. related news Bulls push Sensex above 41K, but dump small-caps; 48 stocks fell 10-20% in a week Technical View: Nifty forms bullish candle, new highs in sight Taking Stock: Market rises for 3rd day in a row on positive global cues The top gainers from the NSE include IndusInd Bank, Zee Entertainment, ICICI Bank, Cipla and Power Grid while the top losers are Indiabulls Housing Finance, Bharti Infratel, Asian Paints, Hindalco … [Read more...] about D-Street Buzz: Media stocks gain led by Zee Entertainment; ICICI Bank jumps 2%