MARKET ERASES EARLY GAINS, SENSEX FALLS OVER 200 POINTS

MUMBAI: The BSE Sensex gave up all its early gains in choppy trade on Thursday and ended lower for the third straight session by falling over 200 points due to selling in metal, PSU, auto and banking stocks amid fresh fund outflows and a weak trend in the global market. The 30-share Sensex opened higher at 35,282.33 points and advanced further to the day’s high of 35,364.50 on the back of fresh buying by domestic investors amid further strength in the rupee. It closed at 34,981.02, recording a fall of 218.78 points, or 0.62%. Similarly, NSE Nifty 73.30 points, or 0.69%, to close at 10,526.75.

NHAI files papers with Sebi to raise ₹10,000 crore

NEW DELHI: The National Highways Authority of India (NHAI) has filed draft papers with markets regulator Securities and Exchange Board of India (Sebi) to raise up to ₹10,000 crore through bonds to finance its various projects. NHAI has filed papers for “public issue of taxable, secured redeemable non convertible bonds in the nature of debentures upto ₹10,000 crore”. The funds will be used through the issuance of bonds in one or more tranches. Proceeds of the issue will be utilised towards part financing of different projects including Bharatmala Pariyojana as well as other operational, administrative and financial purposes, the draft papers filed with Sebi showed.

Oil resumes slide after surge in US oil inventories

SINGAPORE/LONDON: Oil fell after a surprisingly large increase in US inventories, while another tweet from US President Donald Trump calling for lower prices suggested the Organization of the Petroleum Exporting Countries (OPEC) may reconsider plans to cut production. Futures fell as much as 2% in New York after Wednesday’s 2.3% jump pared some of the losses from a rout earlier this week. US’S crude inventories rose for a ninth straight week, the longest run of gains since March 2017, according to government data on Wednesday. Meanwhile, Trump thanked Saudi Arabia for lower oil prices in his tweet, adding “let’s go lower!”

AU Small Finance Bank plans to raise ₹500 crore

NEW DELHI: Au Small Finance

Bank on Thursday said it will raise ₹500 crore by issuing bonds in one or more tranches. The Board of Directors at their meeting held on Thursday has considered and approved to augment the capital, the bank said in a regulatory filing. The money will be raised by issuing Basel II compliant, Tier II, non-convertible redeemable bonds, being classified as subordinated debt in one or more tranches up to ₹500 crore, including green shoe option. COMPILED FROM AGENCIES