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Market Live Updates: Indices open flat, Sensex slips 40 points; PSU banks gain led by IOB

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Share/Stock Live Updates: The benchmark equity indices on the National Stock Exchange (NSE) and BSE opened on a flat note on Thursday.

The S&P BSE Sensex slipped 40.49 points to 59,372.78 in the opening deals, while the Nifty 50 declined 12 points to 17,699.30.

On the Sensex pack, Power Grid, RIL, Kotak Mahindra Bank, HCL Tech, Maruti and Axis Bank were among the laggards in the early session while Tata Steel, NTPC, Dr Reddy’s, HUL, Asian Paints and L&T were among the gainers.

Among sectors, the Nifty PSU Bank index surged over 2 per cent in the early deals led by Indian Overseas Bank and Central Bank of India.

(with inputs from agencies)

Stocks, BSE Sensex, NSE Nifty, Crude oil prices, gold, silver prices, commodity market and money markets LIVE updates:

The Reserve Bank of India (RBI) on Wednesday removed Indian Overseas Bank from the Prompt Corrective Action Framework.

IOB was placed under the PCA framework in 2015.

The Board for Financial Supervision, after review of IOB’s performance, on the basis of the published financial results for 2020-21 found that the bank was not in breach of the PCA parameter, the central bank said in a statement. The bank also provided a written commitment that it would comply with the norms of Minimum Regulatory Capital, Net NPA and Leverage ratio on an ongoing basis, it added. Click here to read

The Nifty PSU Bank index was trading over 1.5 per cent in the morning trade led by a sharp rally in the shares of Indian Overseas Bank (IOB) after the Reserve Bank of India (RBI) removed the lender from its PCA (prompt corrective action) framework.

Asian shares found some calm on Thursday following this week’s heavy China-driven losses although the dollar sat at a more than one-year high against major peers, upheld by lingering safe-haven demand and expectations for tighter U.S. monetary policy.

MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.06%, while the Nikkei lost 0.36% a day after Japan’s ruling party chose softly spoken consensus-builder Fumio Kishida as its new leader and the country’s new prime minister.

(Reuters)

Sensex slips 40.49 pts to 59,372.78 in opening session; Nifty declines 12 pts to 17,699.30.

(PTI)

Wednesday, the topline equity indices on the National Stock Exchange (NSE) and BSE had ended marginally lower after recovering from their intraday lows amid the weakness in global markets.

The S&P BSE Sensex fell 254.33 points (0.43 per cent) to settle at 59,413.27 while the Nifty 50 slipped 37.30 points (0.21 per cent) to end at 17,711.30. Earlier in the day, the BSE benchmark had crashed 556.19 points (0.93 per cent) to hit an intraday low of 59,111.41, while the broader Nifty had touched a low of 17,608.15, down 140.45 points (0.79 per cent).

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