The government announced Rs 88,139 crore capital infusion in 20 public sector banks (PSBs) during the current fiscal, with IDBI Bank getting the most -- Rs 10,610 crore.
Key indices on Thursday opened on a colourless note ahead of the expiry of January series futures and options contracts.
At 10:49 AM, Sensex were trading in red at 36,083.53 points while Nifty was also trading down with 11,069.80 points.
The focus were on banking stocks as on Wednesday the Finance Minister Arun Jaitley announced that the government would infuse Rs Rs 88,139 crore for 20 state-owned banks for the current fiscal towards recapitalisation.
The government announced Rs 88,139 crore capital infusion in 20 public sector banks (PSBs) during the current fiscal, with IDBI Bank getting the most -- Rs 10,610 crore.
UCO Bank jumped 6.80 per cent to Rs 33.75. IDBI Bank rose 2.75 per cent to Rs 67.25. Bank of India, Dena Bank and Indian Overseas bank all gained up to 2 per cent. But large lenders such as PNB, Bank of Baroda and SBI fell 2.90 per cent, 2.30 per cent and 2.12 per cent, respectively.
Meanwhile, the major losers in early trade were Infosys,which fell 1.54 per cent to Rs 1166.90, while TCS declined 1.46 per cent to Rs 3,128.25. Bharti Airtel, Wipro and Bajaj Auto declined up to 1 per cent.
Asian stocks held near a record high on Thursday though concerns about the Trump administration's protectionist stance cast a shadow on financial markets, while the dollar struggled after U.S. Treasury Secretary Steven Mnuchin welcomed a weaker currency.
MSCI's broadest index of Asia-Pacific shares outside Japan was flat after hitting an all-time peak for the ninth session in a row.
Japan's Nikkei fell 0.9 percent, hit by the dollar's decline against the yen.
MSCI ACWI, the index provider's broadest gauge of the world's stock markets, boosted its gains for the month to 6.5 percent. It had registered declines only on two days this year amid optimism over an extended growth spurt in the global economy and solid earnings.
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