Indices reverse gains; SENSEX down 100 pts, NIFTY50 slips below 24,800; RBL Bank tumbles over 13%

Last seen, the BSE SENSEX was trading at 81,063.16 levels, down 161.59 points, or 0.20%, while the NSE NIFTY 50 index was trading at 24,755.10 points, down 98.95 points, or 0.4%. 

The top gainers on the NSE were Tech Mahindra, HDFC Bank, SBI Life, Axis Bank, and Wipro. The top losers were Tata Consumer Products, Kotak Mahindra Bank, BPCL, Bharti Airtel, and Hero MotoCorp. 

Foreign investors (FIIs/FPIs) net sold equities worth ₹5,485.70 crore on Friday, October 18, while DIIs or domestic institutional investors net bought shares worth ₹5,214.83 crore. 

Buzzing Stocks

RBL Bank Chief Executive and Managing Director R Subramaniakumar told reporters that the stress in the microfinance book is due to industry-wide issues, but the same on the credit-card front, where the regulator has been flagging risks for the industry, is on account of internal aspects.

Broader Market

The BSE SmallCap index was down 0.43% at 56,258.90 levels while the BSE MidCap index was trading at 47,814.53, down 0.27%.

Global Markets

Asia shares dipped in and out of positive territory on Monday, under pressure from weakness in Chinese stocks. Though China cut its benchmark lending rates on Monday, the move was anticipated, said a report by Reuters. 

Gold hit another record high on conflict in the Middle East and an extremely close US presidential election, with the yellow metal expected to stay in favour amid much global uncertainty.

Oil prices ticked higher on Monday, nursing a steep fall from last week.

Brent crude futures were last 0.4% higher at $73.36 a barrel, while US crude ticked up 0.43% to $69.52 per barrel.