Benchmark indices closed the day on a positive note, with good movements on both the indices, as investors were not very bullish ahead of March F&O series’ expiry.The 30-share Sensex was up 121.91 points at 29531.43, while the Nifty was up 43.00 points at 9143.80. The market breadth was negative as 1,188 shares have advanced against a decline of 1,656 shares, while 238 shares are unchanged.
Bank Nifty Outlook :
State Bank of India, country’s largest bank, is expecting to see 50 percent or about 6,000 employees opting for its voluntary retirement scheme (VRS).A senior executive of SBI said, “The employees opting for VRS is on expected lines. We have estimated about half or 50 percent of the employees taking that option. You can say about 6,000 employees may opt to take it up.”The VRS has been offered to about 12,000 employees of the associate banks.”The scheme will be on offer till April 5 and those employees who have opted or applied for the VRS can withdraw it thereafter in a week’s time..so we have to wait and see how many apply,” said Dinesh Khara, Managing Director at SBI.