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Sensex ends 236 pts down, Nifty slips below 10,400 levels as PSU banks fall

All that happened in the markets today.

SI Reporter  |  New Delhi 

The benchmark indices ended 0.7% lower on Monday led by a steep fall in the key banking stocks. The Nifty PSU Bank index ended 2.5% down with Punjab National Bank, Union Bank of India and Syndicate Bank being the top losers. The S&P BSE Sensex ended at 33,775, down 236 points while the broader Nifty50 index settled at 10,378, down 74 points. Asian shares gained on Monday, joining a global recovery for equity markets as sentiment improved gradually from a recent shakeout that was sparked by fears of creeping inflation and higher borrowing costs. MSCI's ...

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Sensex ends 236 pts down, Nifty slips below 10,400 levels as PSU banks fall

MARKET COMMENT: Jayant Manglik, President, Religare Broking   Nifty started the F&O expiry week on feeble note and breached its crucial support at 10400. The overhang of banking fraud at PNB continued to haunt the PSU banking pack which later joined by others as well. However, recovery in the last hour of the trade pared some losses.   Markets are seeing excessive volatility at present, citing local issues and the upcoming derivatives expiry will further fuel the same. We advise keeping stock specific trading approach and maintaining strict risk management rules to avoid unmanageable losses

Sensex ends 236 pts down, Nifty slips below 10,400 levels as PSU banks fall

Market watch (Image source: BSE)

Sensex ends 236 pts down, Nifty slips below 10,400 levels as PSU banks fall

Top Sectoral loser: Nifty PSU Bank cracks nearly 3%

Sensex ends 236 pts down, Nifty slips below 10,400 levels as PSU banks fall

Sectoral Trend

Sensex ends 236 pts down, Nifty slips below 10,400 levels as PSU banks fall

Sensex top losers and gainers

Sensex ends 236 pts down, Nifty slips below 10,400 levels as PSU banks fall

Market at close The S&P BSE Sensex ended at 33,775, down 236 points while the broader Nifty50 index settled at 10,378, down 74 points.

Sensex ends 236 pts down, Nifty slips below 10,400 levels as PSU banks fall

PNB fraud: Who's liable and why multiple audits failed to raise an alarm?   Punjab National Bank in an FIR filed with the Central Bureau of Investigation submitted that its in-house investigation had not found any role of chartered accountants, the statutory auditors and empanelled valuers in the alleged scam. That would be music to the ears of the five statutory auditors of the New Delhi-headquartered bank. However, it remains unanswered as to why multiple levels of audit failed to raise an alarm in the system. READ MORE

Sensex ends 236 pts down, Nifty slips below 10,400 levels as PSU banks fall

Two-year oil price curve likely to influence timing of Saudi Aramco IPO It's the burning question in the oil industry: when will Saudi Arabia pull the trigger on the Aramco stock market listing?   Many industry experts are focusing on the current level of oil prices. However another key consideration for Saudi officials in floating up to 5 per cent of the state oil producer is where they see prices in one to two years' time, two sources close to the IPO said. CLICK HERE FOR FULL STORY

Sensex ends 236 pts down, Nifty slips below 10,400 levels as PSU banks fall

Financial conditions deteriorate in Jan-Mar, says CII-IBA index An index mapping the country’s short-term financial conditions has plunged over 12 points for the fourth quarter of the current fiscal year ending March 31, as compared to the previous quarter.   The CII-IBA Financial Conditions Index stood at 53.2 for the fourth quarter (Q4) of 2017-18 as against 65.3 in the October-December period. READ MORE

Sensex ends 236 pts down, Nifty slips below 10,400 levels as PSU banks fall

Market Check S&P BSE Sensex 33,724.45 -0.84%   Nifty 50 10,342.40 -1.05%   S&P BSE 200 4,528.32 -1.01%   Nifty 500 9,126.10 -1.19%   S&P BSE Mid-Cap 16,373.41 -1.38%   S&P BSE Small-Cap 17,798.40 -1.32%

Sensex ends 236 pts down, Nifty slips below 10,400 levels as PSU banks fall

PNB fraud: What does it take to set up a high-performance RBI? A certain minimal state capacity in bank regulation and supervision is required, and we are repeatedly discovering this is absent. Some people see this as a question of public versus private banking. Private banks in India also have major difficulties with non-performing assets (NPAs), which suggests that the common factor of banking regulation is the root cause. READ MORE

First Published: Mon, February 19 2018. 15:30 IST
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Sensex ends 236 pts down, Nifty slips below 10,400 levels as PSU banks fall

All that happened in the markets today.

The benchmark indices ended 0.7% lower on Monday led by a steep fall in the key banking stocks. The Nifty PSU Bank index ended 2.5% down with Punjab National Bank, Union Bank of India and Syndicate Bank being the top losers. The S&P BSE Sensex ended at 33,775, down 236 points while the broader Nifty50 index settled at 10,378, down 74 points. Asian shares gained on Monday, joining a global recovery for equity markets as sentiment improved gradually from a recent shakeout that was sparked by fears of creeping inflation and higher borrowing costs. MSCI's ...

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