The Bombay Stock Exchange's Sensitive Index, or Sensex, added 0.5 percent to 14,880.24, a third straight record. The S&P/CNX Nifty Index on the National Stock Exchange was little changed at 4359.30. Nifty Futures for July delivery was little changed at 4355.25.
Overseas investors bought a net 4.1 billion rupees ($100.6 million) worth of Indian shares on July 3, according to the latest figures from the Securities & Exchange Board of India's Web site.
Banks: Indian lenders are cutting interest rates on deposits of more than 1.5 million rupees, the Hindu Business Line reported, citing local bank officials. Some banks have slashed interest rates on deposits by as much as 2 percentage points to less than 10 percent, the newspaper said, citing J. Moses Harding, head of wholesale banking at IndusInd Bank Ltd.
ICICI Bank Ltd. (ICICIBC IN), the nation's most valuable lender, added 19.15 rupees, or 2 percent, to 985.35. State Bank of India (SBIN IN), the country's largest lender, fell 19.05 rupees, or 1.2 percent, to 1563.4.
DLF Ltd. (DLFU IN): The real-estate developer controlled by billionaire Kushal Pal Singh, will list on the Indian stock exchanges today. The company raised 91.9 billion rupees in the nation's biggest initial share sale, selling 175 million shares at 525 rupees apiece.
Hindustan Petroleum Corp. Ltd. (HPCL IN): The state-run oil marketer and refiner said its venture with billionaire Lakshmi Mittal will raise as much as $1 billion through overseas borrowings in next four years. Hindustan Petroleum rose 0.5 rupee, or 0.2 percent, to 265.95.
JM Financial Ltd. (JM IN): The company, Morgan Stanley's former Indian partner, said it agreed to buy a 60 percent stake in ASK Securities India Pvt. for 581.4 million rupees. The venture will focus on equity research, institutional sales and trading. JM Financial declined 7.15 rupees, 0.7 percent, to 1,058.8.
Oil & Natural Gas Corp. (ONGC IN): India's largest oil producer had its stock rating cut to ``neutral'' from ``buy'' at Goldman Sachs. The shares declined 13.65 rupees, or 1.5 percent, to 874.25.
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