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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

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)

Indices recover from days low to end flat, PSU Bank stocks gain over 1.5%

PSU Banks recover

Indices recover from days low to end flat, PSU Bank stocks gain over 1.5%

Sectoral trend

Indices recover from days low to end flat, PSU Bank stocks gain over 1.5%

Sensex heatmap

Indices recover from days low to end flat, PSU Bank stocks gain over 1.5%

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

Indices recover from days low to end flat, PSU Bank stocks gain over 1.5%

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

Indices recover from days low to end flat, PSU Bank stocks gain over 1.5%

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.

Indices recover from days low to end flat, PSU Bank stocks gain over 1.5%

Buzzing Trade    Glenmark Pharma is quoting at Rs 547.45, up 1.73% on the day as on the NSE. The stock is down 39.14% in last one year as compared to a 14.03% jump in Nifty and a 18.69% jump in the Nifty Pharma index.

Indices recover from days low to end flat, PSU Bank stocks gain over 1.5%

PSU Banks rebound; IDBI Bank, OBC gain 7% from day's low   Shares of public sector undertaking (PSU) banks have 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. READ MORE

Indices recover from days low to end flat, PSU Bank stocks gain over 1.5%

Buzzing Stock The stock is quoting at Rs 59.1, up 2.34% on the day as on the NSE. Syndicate Bank is down 12.83% in last one year as compared to a 14.03% gain in Nifty and a 12.94% gain in the Nifty PSU Bank index.

Indices recover from days low to end flat, PSU Bank stocks gain over 1.5%

Indian Oil, ONGC, Coal best performers in FY17; BSNL, Air India, MTNL worst Indian Oil, ONGC and Coal India have emerged as the most profitable PSUs for 2016-17, whereas BSNL, Air India and MTNL incurred the highest losses, according to a government survey tabled in Parliament today. READ MORE

Indices recover from days low to end flat, PSU Bank stocks gain over 1.5%

BSE Sensex: Yes Bank, Maruti Suzuki India among top gainers, Hero Motocorp top loser

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.

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)

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