Markets

Sensex rises over 100 points; Nifty near 10550

Sensex rises over 100 points; Nifty near 10550

In addition, public sector bank Punjab National Bank (PNB), on Wednesday, said it has detected some fraudulent transactions worth United States dollars 1.171 billion (about Rs 11,334.4 crore) and the matter has been referred to law enforcement agencies for recovery.

Sentiment in India took a hit after the Reserve Bank of India late on Monday tightened its rules around bank loan defaults, seeking to push more large loan defaulters toward bankruptcy courts and abolishing half-a-dozen existing loan-restructuring mechanisms.

The NSE index Nifty climbed 41.50 points, or 0.39 percent, to 10,581.25.

The S&P BSE Sensex ended at 34,297, up 141 points, while the broader Nifty50 closed at 10,546, up 45.65 points.

However, it slipped on profit-booking to touch a low of 34,028.68.




Foreign portfolio investors (FPIs) sold shares worth Rs 728.71 crore on the net basis, while domestic institutional investors (DIIs) too sold equities to the tune of Rs 152.39 crore on Wednesday, provisional data showed.

Headline consumer price inflation is expected to slow to 1.9 percent a year, with core inflation at 1.7 percent, Reuters reported.

Economic data: Retail inflation slightly eased to 5.07 percent in January from a 17-month high in December but remained above the central bank's medium-term target of 4 percent.

The two Nifty Bank Index stocks that edged up were - HDFC Bank (0.17 per cent) and Federal Bank (0.11 per cent).

On the other hand, Axis Bank (1.37%), Hero Motocorp (1.28%), Asian Paints (0.98%), Cipla (0.37%), Coal India (0.34%), and ITC (0.34%) were the major losers in the Sensex. The benchmark indices Sensex and Nifty had opened 0.50 per cent higher on positive global cues.


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