The benchmark indices traded with minor gains in early afternoon trade. Auto, IT and realty indices witnessed selling pressure. At 12:20 IST, the barometer index, the S&P BSE Sensex, rose 30.37 points or 0.07% at 46,129.38. The Nifty 50 index gained 8.80 points or 0.07% at 13,522.65.
In the broader market, the S&P BSE Mid-Cap index added 0.73% while the S&P BSE Small-Cap index rose 0.67%. Both these indices outperformed the Sensex.
The market breadth was strong. On the BSE, 1,754 shares rose and 1,056 shares fell. A total of 190 shares were unchanged.
The undertone of the market was upbeat amid positive global cues following the progress in coronavirus vaccine. Robust inflows from foreign institutional investors and improving domestic economic scenario also boosted the investor s risk appetite.
The PSU Bank on Friday (11 December) announced it will issue basel-III compliant bonds to raise up to Rs 1,500 crore.In a regulatory filing, Union Bank said, The bank is issuing Basel III compliant perpetual debt instruments in the nature of debentures eligible for inclusion in additional tier 1 capital series XXVII of Rs 500 crore with green shoe option up to Rs 1,000 crore (maximum Rs 1,500 crore) on private placement basis.
The coupon on the bonds is fixed at 8.73% per annum and have a face value of Rs 10 lakh per bond. The bonds are rated IND AA/ Stable by India Rating & Research and BWR AA/Negative by Brickwork Rating India.
Union Bank of India to issue bonds to raise Rs 1500 crore businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.