NEW DELHI: Bombay Stock Exchange and the National Stock Exchange are looking to set up small banks in the country once the Reserve Bank of India opens the window for applications.

The move will help the two exchanges, which have cash transactions running into thousands of crores, manage some of the funds, but will come as bad news for the existing players, such as HDFC Bank, which manage this amount and benefit by way of low cost of funds.

Oil India has dipped 3.5% to Rs 576, extending its previous day’s 2% fall on National Stock Exchange (NSE), after reporting a 33% decline in net profit at Rs 608 crore for the quarter ended September as a historic downslide in crude oil price impacted realizations. The state-owned petroleum explorer had profit of Rs 904 crore during the same quarter last fiscal.

Analysts on an average had expected net profit of Rs 861 crore for the quarter.

Shares of the country’s largest cigarette maker ITC is trading higher by 3% at Rs 367 on National Stock Exchange (NSE) in otherwise subdued market on back of heavy volumes.

The stock opened at Rs 356 and touched a high of Rs 368 on NSE so ar. At 1149 hours, a combined 9.12 million shares changed hands against an average sub 6 million shares that were traded daily in past two weeks on NSE and BSE.

The benchmark BSE Sensex hit new record-high of 28,027.96 and the NSE Nifty touched another peak of 8,383.05, respectively in opening trade on Monday as investors cheered expansion of the Union Cabinet amidst continued foreign capital inflows.

Besides, a mixed trend at other Asian markets influenced trading sentiments.

Shares of DLF on Friday rose over six per cent, adding Rs 1,407 crore to its market valuation, after the Securities Appellate Tribunal (SAT) allowed the realty giant to redeem mutual funds (MFs) worth Rs 1,806 crore to meet working capital needs and service debt payments.

After surging 6.59 per cent to Rs 135 in intra-day trade, shares of DLF finally ended at Rs 134.55, up 6.24 per cent at the BSE.

Shares of Axis Bank has moved higher by nearly 3% to Rs 472, also its record high on the National Stock Exchange (NSE).

Shares of the private sector lender outperformed the market by surging 82% from Rs 260 so far in current calendar year 2014, compared to 32% rise in CNX Nifty. The banking index Bank Nifty gained 52% during the same period.

Bank of Baroda was down 2% to Rs 934 on the Bombay Stock Exchange (BSE) at 1035 hrs as the bank reported a 5.5% dip in Q2 net profit at Rs 1,104 compared to Rs 1,168 crore in the year-ago period.

Gross NPAs rose to 3.32% compared to 3.11% in the previous quarter.

DLF is trading 4% higher at Rs 132 on BSE, in otherwise subdued market, after the Securities Appellant Tribunal (SAT), in an interim relief, allowed real estate giant to redeem its mutual fund investments of Rs 1,806 crore to service its debt.

After hearing an appeal for interim relief by DLF, the Tribunal allowed the company to redeem mutual funds worth Rs 767 crore in the current month and further funds worth Rs 1,039 crore in December, the PTI report suggests.

Stock feeds on the National Stock Exchange (NSE) suffered around 15-minute hit on Wednesday when trading resumed after a day’s holiday on 4 November on account of Moharrum. The feeds opened blank when the markets opened for trade at 9:15am.

Meanwhile, the S&P BSE Sensex gained 0.3% to 27,936 levels in early deals on Wednesday.

Railway-related stocks are witnessing buying interest and trading higher by up to 10% on back of heavy volumes in an otherwise subdued market.

Texmaco Rail & Engineering, Titagarh Wagons, Kalindee Rail Nirman (Engineers), Kernex Microsystems (India) and Stone India are up between 4-10% on the Bombay Stock Exchange (BSE). In comparison, the benchmark Sensex was down 0.11% at 27,835.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.