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Effect Of RBI Ban, 18% Laxmi Vilas Bank Share Price Falls

On Tuesday, the 30-share BSE Sensex gained 315 points or 0.72 percent to close at its new high of 43,953 points.

The third day of the week i.e. on Wednesday, the Indian stock market started with ups and downs. In early trade, the Sensex crossed the 44 thousand mark with an increase, while the Nifty also crossed the 12,860 mark level. During initial trading, SBI shares rose up to 2 per cent on the BSE index. At the same time, the shares of Powergrid, Mahindra, L&T, IndusInd Bank, ICICI Bank were also seen to be trading with gains. Among the declining stocks were HUL, Tech Mahindra, Titan, TCS.

Lakshmi Vilas Bank shares fell 18%
In the early hours of trading, the share price of Lakshmi Vilas Bank fell more than 18 percent to below Rs 13. Let us tell you that the financial situation of Lakshmi Vilas Bank is very bad. Meanwhile, the central government has imposed Moratorium on Laxmi Vilas Bank for a month. After this, bank account holders will not be able to withdraw more than Rs 25,000 from their accounts till December 16. This order has been brought under Section 45 of the RBI Act.

Wipro breaks down 2 percent
The share price of IT company Wipro declined by 2 per cent. In fact, shareholders have approved a plan to buy back shares worth up to Rs 9,500 crore from the market. The board of directors of Wipro approved the scheme only last month, under which the company will offer to buy 23.75 crore shares at the rate of Rs 400 per share.

Market condition on Tuesday
On Tuesday, the 30-share BSE Sensex gained 315 points or 0.72 percent to close at its new high of 43,953 points. Similarly, during the Nifty trading of the National Stock Exchange, it reached a record level of 12,934 points. The Nifty finally ended with a gain of 93.95 points or 0.74 percent at 12,874. This is its new high level.

Among the Sensex companies, Tata Steel’s share rose the most to nearly six percent. Shares of SBI, HDFC Bank, Bajaj Finance, Axis Bank, L&T, Maruti, IndusInd Bank and HDFC were also profitable. On the other hand, NTPC, HCL Tech, ONGC, Infosys, ITC, Powergrid and Hindustan Unilever were the losers. Let me tell you that there was no trading in the stock market on Monday.

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