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The benchmark indices settled lower for the second consecutive
day, falling nearly 1 per cent on Tuesday tracking weakness in the global
markets.
The S&P BSE Sensex ended at 37,291, down 295 points while the
broader Nifty50 index
settled at 11,279, down 99 points.Among
sectoral indices, the Nifty PSU Bank index settled 5.4 per cent lower weighed
by a fall in Bank of Baroda (BoB), which slipped 17 per cent to Rs 112.20 on
the National Stock Exchange (NSE) after the government on Monday proposed to
create the country’s third-largest bank by amalgamating Dena Bank and Vijaya
Bank with much larger Bank of Baroda (BoB) in an all-stock deal. The banks’
boards are expected to meet in 10 days to take a callThe three
state-owned banks ‐ Bank of
Baroda, Dena Bank and Vijaya Bank ‐ saw a mixed reaction at the bourses on Tuesday, a day after the
government proposed to amalgamate them into a combined entity.
