It was not a great start to the week for banking counters, as the BSE Banking index dropped 2.3 percent on fears margins could be hit.
India’s top lender State Bank of India said it will raise deposit rates by between 50 and 150 basis points for various maturities, with effect from Dec. 7.
Shares in Indian Oil Corporation ended 10.96 percent higher on Wednesday. Its chairman said the firm aims to raise $4.4 billion in January through a FPO and that the pricing for offer was likely to be at 450 rupees apiece.
Shares were up as much as 14 percent during trade.
The Indian government is selling a 10 percent stake, while the company will offer an equal number of new shares to raise 20 billion rupees, making the sale the biggest-ever share offering in the Indian market.
The banking index ended 2.9 percent lower on reports pointing to a probe into loans issued by some financial institutions, adding to investor nervousness.
After market hours, the CBI arrested eight top officials from banks and financial firms on charges of taking bribes to grant corporate loans.
Shares in microlender SKS Microfinance rose 5.75 percent to close at 714.45 rupees on Monday.
Shares took a beating on Thursday and fell 20 percent after the lender said the new regulations could squeeze profit and revenue. However, SKS on Friday said its balance sheet was healthy.
The BSE Metals index gained 1.9 percent on Thursday, with stocks like Hindalco and JSW Steel posting top gains.
Hindalco shares closed 4.8 percent higher at 222.35 rupees, JSW Steel gained 3.5 percent. Jindal Steel and Power ended down 1.8 percent as the top sectoral loser.
It was a tough day for those who invest in real estate stocks as the BSE Realty index fell 4.76 percent on Friday, in a Mumbai market that fell more than 400 points.
Sobha Developers was worst hit in the sector, ending down 6 percent. Unitech shares fell 5.9 percent, while DLF slipped 5.46 percent.
Shares in Coal India rose 1.8 percent on Thursday to close at 328.45 rupees.
The company, which is the world’s largest coal miner, may miss the current fiscal year’s 460.5 million tonnes production target, its technical director said on Wednesday.
The government recently raised about 152 billion rupees through the sale of some of its holding in Coal India.