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MARKET WRAP: Nifty ends above 11,000 as PSU banks gain; SBI up 3%

Benchmark indices rose on Tuesday as PSU Banks such as SBI, Bank of Baroda gained

SI Reporter  |  New Delhi 

Benchmark indices rose on Tuesday as PSU Banks such as SBI, Bank of Baroda gained on report that six banks, including PNB, may get capital infusion of Rs 80 billion but weakness in consumer stocks including Hindustan Unilever capped gain Around six public sector banks (PSBs), including the PNB that has been hit by the Nirav Modi scam, might get a capital infusion of about Rs 80 billion from the government, The Economic Times on Tuesday reported, while citing an unnamed senior finance ministry official. The S&P BSE Sensex ended at 36,520, up 196 points while the ...

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MARKET WRAP: Nifty ends above 11,000 as PSU banks gain; SBI up 3%

Nifty PSU Bank index settles 3.86% higher. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) UNION BANK (I) 80.65 74.40 6.25 8.40 BANK OF BARODA 120.75 113.05 7.70 6.81 PUNJAB NATL.BANK 78.65 73.85 4.80 6.50 ALLAHABAD BANK 42.15 39.65 2.50 6.31 BANK OF INDIA 81.90 77.50 4.40 5.68 See More

MARKET WRAP: Nifty ends above 11,000 as PSU banks gain; SBI up 3%

Nifty sectoral gainers of the day

MARKET WRAP: Nifty ends above 11,000 as PSU banks gain; SBI up 3%

BSE Sensex: SBI, Sun Pharma, Axis Bank among top gainers of the day, HUL top loser

MARKET WRAP: Nifty ends above 11,000 as PSU banks gain; SBI up 3%

Market at close   The S&P BSE Sensex ended at 36,520, up 196 points while the broader Nifty50 index settled at 11,008, up 71 points.

MARKET WRAP: Nifty ends above 11,000 as PSU banks gain; SBI up 3%

Ashok Leyland first-quarter profit tops expectations   Ashok Leyland reported a better-than- expected first quarter net profit on Tuesday, driven by higher sales in its medium and heavy commercial vehicles business.   Net profit rose to Rs 3.70 billion ($54.13 million) in the quarter ended June 30 from Rs 1.11 billion a year ago. The year-earlier quarter included a foreign exchange loss of Rs 26.7 million.

MARKET WRAP: Nifty ends above 11,000 as PSU banks gain; SBI up 3%

NCLAT stays voting by Bhushan Power & Steel lenders on finalising bids   The NCLAT today stayed the meeting of Committee of Creditors (CoC) of Bhushan Power and Steel Ltd to vote on finalisation of bids of the debt-ridden firm.   The National Company Law Appellate Tribunal (NCLAT) also pulled up the Resolution Professional (RP) of the company, Mahendra Kumar Khandelwal, for not following its previous orders to allow the representatives of operational creditors to attend the meeting. READ MORE

MARKET WRAP: Nifty ends above 11,000 as PSU banks gain; SBI up 3%

NSE registers record volumes as Gift City gains popularity among investors   India’s “offshore” trading platform International Financial Services Center (IFSC), Gift City is gaining popularity among investors thanks to tax sops.   The daily volume of the National Stock Exchange (NSE) IFSC crossed the $500-million mark for the first time, on July 13. A total of 46,710 index contracts were traded during the day—the highest-ever since NSE launched the special platform for Gift City in June 2017. READ MORE

MARKET WRAP: Nifty ends above 11,000 as PSU banks gain; SBI up 3%

Relief for India? US to consider waivers on Iran sanctions, says Mnuchin   The United States in certain cases will consider waivers for countries that need more time to wind down imports of oil from Iran as it seeks to avoid disrupting global oil markets while reimposing sanctions against Tehran, US Treasury Secretary Steven Mnuchin said.    "We want people to reduce oil purchases to zero, but in certain cases, if people can't do that overnight, we'll consider exceptions," Mnuchin told reporters on Friday, clarifying some US officials' comments that there would be no exemptions. Mnuchin's comments were embargoed for release on Monday as other US officials were expected to begin talks in India this week on cutbacks in Iranian oil supplies. READ MORE

MARKET WRAP: Nifty ends above 11,000 as PSU banks gain; SBI up 3%

PSU banks gain on government capital infusion report   Shares of public sector undertaking (PSU) banks were in focus with Nifty PSU Bank index gaining nearly 2% on media report that six banks, including PNB, may get capital infusion of Rs 80 billion.   Union Bank of India, Bank of Baroda, Oriental Bank of Commerce, Bank of India, Allahabad Bank, Canara Bank, Punjab National Bank (PNB), Andhra Bank and Syndicate Bank were up in the range of 4% to 6% on the National Stock Exchange (NSE). State Bank of India (SBI) and IDBI Bank were up 1% each READ MORE

MARKET WRAP: Nifty ends above 11,000 as PSU banks gain; SBI up 3%

Market Check INDEX LATEST PREVIOUS CHANGE CHANGE(%) BSE SENSEX 36357.81 36323.77 34.04 0.09 BSE 500 14718.92 14649.37 69.55 0.47 BSE MID-CAP 15272.48 15053.77 218.71 1.45 BSE SMALL-CAP 15865.54 15790.00 75.54 0.48 S&P BSE LARGECAP 4242.12 4229.00 13.12 0.31

MARKET WRAP: Nifty ends above 11,000 as PSU banks gain; SBI up 3%

Federal Bank rebounds from 52-week low post Q1 results; stock up 13%   Federal Bank has moved higher by 13% to Rs 83.90 on the BSE in noon deal after the private sector lender said its assets quality in June quarter (Q1FY19) remain stable as compared to March quarter.   The stock rebounds 14% from its 52-week low of Rs 73.60, touched on the BSE in early morning trade, before the announcement of Q1 results. READ MORE

First Published: Tue, July 17 2018. 08:15 IST
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MARKET WRAP: Nifty ends above 11,000 as PSU banks gain; SBI up 3%

Benchmark indices rose on Tuesday as PSU Banks such as SBI, Bank of Baroda gained

Benchmark indices rose on Tuesday as PSU Banks such as SBI, Bank of Baroda gained on report that six banks, including PNB, may get capital infusion of Rs 80 billion but weakness in consumer stocks including Hindustan Unilever capped gain Around six public sector banks (PSBs), including the PNB that has been hit by the Nirav Modi scam, might get a capital infusion of about Rs 80 billion from the government, The Economic Times on Tuesday reported, while citing an unnamed senior finance ministry official. The S&P BSE Sensex ended at 36,520, up 196 points while the ...

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