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The domestic equity benchmarks traded with minor cuts in afternoon trade. The Nifty traded below the 17,000 level after hitting the day's high of 17,061.75 in early trade. Financial services, bank and private bank stocks edged higher while media, PSU bank and metal scrips declined. At 13:30 IST, the barometer index, the S&P BSE Sensex, was down 24.19 points or 0.04% to 57,629.67. The Nifty 50 index lost 28.85 points or 0.17% to 16,956.85. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.60% while the S&P BSE Small-Cap index was declined 0.78%. Sellers outnumbered buyers. On the BSE, 948 shares rose and 2,478 shares fell. A total of 128 shares were unchanged. Gainers & Losers: IndusInd Bank (up 1.85%), UPL (up 1.76%), Coal India (up 0.84%), Dr. Reddy's Laboratories (up 0.83%) and HDFC Bank (up 0.79%) were the top Nifty gainers. Adani Enterprises (down 6.63%), Adani Ports and Special Economic Zone (down 5.56%), Tech Mahindra (down 2.99%), Hero MotoCorp (down 2.20%) and ONGC (down 2%) were the top Nifty losers. Stocks in Spotlight: One 97 Communications rose 0.60%. Paytm Payments Bank (PPBL) announced that its full KYC wallet customers will be able to make payments on every UPI QR codes and online merchant where UPI payments are accepted. Paytm Payments Bank has the largest scale in India, in terms of mobile transactions. Kalyan Jewellers slumped 8.88%. On the BSE, over 70.31 lakh shares of the company had changed hands at the counter as against an average trading volume of 3.39 lakh shares in the past two weeks. Warburg Pincus will reportedly offload a 2.5% stake in the company through a block deal. The shares would be offloaded at Rs 110 apiece, as per reports. Aditya Birla Capital shed 0.48% after the company received board approval for sale of its entire 25.65 lakh shares or 50.002% stake in Aditya Birla Insurance Brokers (ABIBL), to Edme Services. Infocyber India, the other shareholder of ABIBL, will also sell its 25.64 lakh shares, or 49.998% stake of the company, to Edme Services. The total enterprise value of the transaction is set at Rs 455 crore. Adani Enterprises tumbled 6.63%. AMG Media Networks (AMNL), a wholly-owned subsidiary of Adani Enterprises, has completed the acquisition of 49% stake in Quintillion Business Media (QMBL) for a cash consideration of Rs 47.84 crore. Global Markets: Shares in Europe and Asia advanced on Tuesday as investor fears over the recent banking turmoil continued to show signs of easing. Overnight in the U.S., stocks on Wall Street ended higher - bank stocks broadly rose as investors attempted to move on from the turmoil after First Citizens bought a large chunk of failed Silicon Valley Bank. Powered by Capital Market - Live News
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