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Indices recover from day's low to end flat, PSU Bank stocks gain over 1.5%

All that happened in the markets today.

SI Reporter  |  New Delhi 

MARKETS LIVE: Sensex continues to trade lower, Nifty nears 10,350

PSU Banks recover Sectoral trend Sensex heatmap Markets at close The S&P BSE Sensex ended the day at 33,836, down 21 points hwile the broader Nifty50 index settled at 10,411, down 16 points Torrent may raise Rs 15 bn via QIP as it readies to bid for Sanofi assets   Ahmedabad-based Torrent Pharmaceuticals is all set to raise around Rs 15 billion through the qualified institutional placement (QIP) route, as it gets ready to bid for Sanofi's generic drugs unit (Zentiva), sources close to the development said. An e-mail sent to the company on the matter remained unanswered.   A source close to the development said that the funds might be used to act as a 'war chest' for Torrent, as it readies to make a bid for the European asset. Another source felt Torrent might also use the funds for capital expenditure purposes apart from the potential acquisition. READ MORE InterGlobe Aviation slips   InterGlobe Aviation fell 2.61% to Rs 1,268.55 on BSE, following aviation regulator's order to ground certain A320Neo aircraft due to an ongoing Pratt & Whitney engine issue.

Benchmark indices trimmed their morning losses to end largely flat on Wednesday following a positive wholesale price inflation data.

The S&P BSE ended the day at 33,836, down 21 points hwile the broader Nifty50 index settled at 10,411, down 16 points.

Among banking indices, the PSU Bank index ended 1.75% higher on Wednesday. The index had hit an intra-day low of 2,846.

Shares of public sector undertaking (PSU) moved higher by 4% in noon deals, bouncing back upto 8% from their early morning lows on the National Stock Exchange (NSE).
 
Oriental Bank of Commerce (OBC), Union Bank of India, Syndicate Bank, Bank of Baroda (BOB) and Indian Bank were up more than 2% on the NSE. All these stocks have recovered by more than 5% from their respective intra-day lows.

RBI, on Tuesday, had barred from issuing guarantees in the form of letters of undertaking (LoU) as it clamped down on the import financing route used by fugitive jeweller Nirav Modi and his uncle Mehul Choksi for allegedly committing India's biggest bank fraud.

In key economic data released Wednesday, India's annual wholesale price inflation eased to 2.48 per cent in February for the third straight month after touching an eight-month high in November, helped by a softer rise in food and fuel prices.

GLOBAL MARKETS

eased on Wednesday amid fears of rising US protectionism as President Donald Trump fired his Secretary of State, regarded as a moderate in his administration, and eyes hefty tariffs on Chinese imports.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.3 per cent, retreating from a 1-1/2 month high hit on Tuesday.
 
(with wire inputs)

First Published: Wed, March 14 2018. 15:30 IST
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Indices recover from day's low to end flat, PSU Bank stocks gain over 1.5%

All that happened in the markets today.

All that happened in the markets today.
Benchmark indices trimmed their morning losses to end largely flat on Wednesday following a positive wholesale price inflation data.

The S&P BSE ended the day at 33,836, down 21 points hwile the broader Nifty50 index settled at 10,411, down 16 points.

Among banking indices, the PSU Bank index ended 1.75% higher on Wednesday. The index had hit an intra-day low of 2,846.

Shares of public sector undertaking (PSU) moved higher by 4% in noon deals, bouncing back upto 8% from their early morning lows on the National Stock Exchange (NSE).
 
Oriental Bank of Commerce (OBC), Union Bank of India, Syndicate Bank, Bank of Baroda (BOB) and Indian Bank were up more than 2% on the NSE. All these stocks have recovered by more than 5% from their respective intra-day lows.

RBI, on Tuesday, had barred from issuing guarantees in the form of letters of undertaking (LoU) as it clamped down on the import financing route used by fugitive jeweller Nirav Modi and his uncle Mehul Choksi for allegedly committing India's biggest bank fraud.

In key economic data released Wednesday, India's annual wholesale price inflation eased to 2.48 per cent in February for the third straight month after touching an eight-month high in November, helped by a softer rise in food and fuel prices.

GLOBAL MARKETS

eased on Wednesday amid fears of rising US protectionism as President Donald Trump fired his Secretary of State, regarded as a moderate in his administration, and eyes hefty tariffs on Chinese imports.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.3 per cent, retreating from a 1-1/2 month high hit on Tuesday.
 
(with wire inputs)
image
Business Standard
177 22

Indices recover from day's low to end flat, PSU Bank stocks gain over 1.5%

All that happened in the markets today.

Benchmark indices trimmed their morning losses to end largely flat on Wednesday following a positive wholesale price inflation data.

The S&P BSE ended the day at 33,836, down 21 points hwile the broader Nifty50 index settled at 10,411, down 16 points.

Among banking indices, the PSU Bank index ended 1.75% higher on Wednesday. The index had hit an intra-day low of 2,846.

Shares of public sector undertaking (PSU) moved higher by 4% in noon deals, bouncing back upto 8% from their early morning lows on the National Stock Exchange (NSE).
 
Oriental Bank of Commerce (OBC), Union Bank of India, Syndicate Bank, Bank of Baroda (BOB) and Indian Bank were up more than 2% on the NSE. All these stocks have recovered by more than 5% from their respective intra-day lows.

RBI, on Tuesday, had barred from issuing guarantees in the form of letters of undertaking (LoU) as it clamped down on the import financing route used by fugitive jeweller Nirav Modi and his uncle Mehul Choksi for allegedly committing India's biggest bank fraud.

In key economic data released Wednesday, India's annual wholesale price inflation eased to 2.48 per cent in February for the third straight month after touching an eight-month high in November, helped by a softer rise in food and fuel prices.

GLOBAL MARKETS

eased on Wednesday amid fears of rising US protectionism as President Donald Trump fired his Secretary of State, regarded as a moderate in his administration, and eyes hefty tariffs on Chinese imports.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.3 per cent, retreating from a 1-1/2 month high hit on Tuesday.
 
(with wire inputs)

image
Business Standard
177 22