Markets

Sensex sheds 144 points in late sell-off; bank stocks sink

Sensex sheds 144 points in late sell-off; bank stocks sink

The management tried to assuage investor concerns a day after the state-owned bank said that it had detected some fraudulent and unauthorised transactions worth about Rs 1.13 trillion ($1,771.69 million) at one of its branches in Mumbai.

Similarly, the wider Nifty50 of the National Stock Exchange declined by 38.85 points or 0.37 per cent to 10,500.90 points.

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. The broader NSE Nifty gained 44.60 points, or 0.42 percent, to end at 10,545.50 after touching a high of 10,618.10.

Mumbai: The BSE benchmark Sensex surged over 167 points, staging a strong recovery in early trade today on firm cues from global markets.

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.

Data released after market hours Monday showed that industrial output expanded by 7.1 per cent in December on robust performance by manufacturing and capital goods sectors.

Real Madrid join Chelsea in race to sign Toby Alderweireld
Italian giants Juventus have asked about Arsenal midfielder Jack Wilshere, whose contract with the Gunners expires in the summer. The Mirror say Chelsea , who recently signed Emerson Palmieri, are keen on Shaw and that Arsenal are also interested.

Shares of Axis Bank (up 0.61 per cent), IndusInd Bank (up 0.37 per cent), IDFC Bank (up 0.28 per cent), Federal Bank (up 0.26 per cent), Kotak Mahindra Bank (up 0.11 per cent) and HDFC Bank (up 0.10 per cent) were also trading with gains.

Australian stocks climbed 0.9 percent and South Korea's KOSPI added 1.1 percent.

Tata Power rose about 1 percent on fund raising reports.

Among sectoral indices, Nifty PSU Bank index, Nifty realty and Nifty media fall.

ICICI Bank (up 3.3 per cent), Infosys (up 1.6 per cent) and ONGC (up 1.2 per cent) were the top gainers on the BSE, while Hero MotoCorp (down 2 per cent) shed the most.


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