DSIJ Mindshare

The bank regulator Reserve Bank of India has imposed a fine of Rs. 10 lakhs on Equitas Small Finance Bank (SFB) as the company was selling mutual fund, pension and insurance products without taking approval from the regulator.

Indian major indices have turned indecisive  but Nifty Media is at the forefront of positive move with 1 per cent gains. Nifty Media Index has taken a major support at 3215-3220 levels which is its multiple resistance turned support level. 

Brushing aside rumours that Videocon chief Venugopal Dhoot has left the country, the company expresses confidence that it will be able to repay its lenders soon.

In the current volatile market, investors are diversifying their portfolios to safeguard their investment and avoid losses.

Going ahead, the levels of 10,275 and 10,310 would act as immediate resistances for the index and, on the downside, the levels of 10,200 followed by 10,130 would be seen as support for the index. Stocks in the news: Filatex India, Bank of Baroda, Bank of India, Shree Renuka Sugars, TCS, Spice Jet, Global Offshore Services, GTL Infrastructure, L&T Finance and Interglobe Aviation