The Daily PulseBusiness
Goldman Sachs and BNP Paribas sell BSE shares worth over two thousand crore rupees
Reported by Danish Ansari (Fact-Checker) · Economic Times - Markets ·
Reported by one source so far
Representative image · Wikimedia CommonsGoldman Sachs and BNP Paribas sold over 68 lakh shares of BSE through bulk deals on the National Stock Exchange. The combined sale brought in about 2,186.44 crore rupees. This large sale happened right before BSE is set to enter the Nifty 50 index.
Buyers and Share Price
UTI Mutual Fund and Nippon India Mutual Fund stepped in to buy a total of 52.43 lakh shares of BSE. Even with the huge share sale by the global banks, BSE shares finished the trading day 3.31 percent higher at 3,200 rupees. This price jump shows strong interest from buyers in the market.
Context
Bulk deals involve the purchase or sale of a large number of shares by institutional investors. When major companies enter a key stock index like the Nifty 50, it often leads to heavy trading activity as big funds adjust their portfolios.
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