Sensex ends lower; SBI drags


Sensex ends lower; SBI drags

Punjab National Bank (PNB) plunged 9.81 per cent after the state-owned lender said it has detected fraudulent transactions worth Dollars 1.77 billion (about Rs 11,335 crore).

The broader NSE Nifty ended 0.37 percent lower at 10,500.90.

The benchmark BSE index opened higher at 34,436.98 on positive domestic and global cues and advanced to hit a high of 34,473.43.

At 10:31 AM, the BSE Sensex was trading at 34,340, up 40 points, while the Nifty50 index was trading at 10,557, up 17 point.

Shares of GAIL rose over 1% as investors shrugged off marginally lower-than-expected Oct-Dec net profit on 1-for-3 bonus share issue.

Mumbai: Benchmark Sensex succumbed to fag-end profit-booking to end 144 points lower at 34,156 on Wednesday after banking stocks tumbled on Reserve Bank of India's (RBI) new norms for recognising stressed assets.

Mumbai: In Wednesday's trade, Punjab National Bank (PNB) shares fell as much as as 7.8 percent intraday on heavy selling pressure following reports that the bank had lost $1.77 billion on "fraudulent transactions" at one of its Mumbai branch.

However, Coal India, RIL, Wipro, Bharti Airtel, Adani Ports, Tata Motors, L&T, HDFC Ltd, HUL and IndusInd Bank ended higher, rising up to 2.47 per cent.

On the macro front back home, wholesale price index (WPI) inflation dropped 2.84% in January from 3.58% in December of 2017.

Among individual stocks, Punjab National Bank (PNB) continued its journey south on Thursday with the stock slipping almost 8 percent.

Japan's Nikkei also gained 1.33 per cent.

Infratel (-2.6%), Sun Pharma (-2.3%), Power Grid (-2.1%), Axis Bank (-1.8%) and SBI (-1.6%) were the top losers in today's trade.