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Sensex pares early gains to end 430 pts lower; Nifty PSU Bank index dips 3%

SI Reporter/New Delhi 06 Mar 18 | 03:30 PM


The domestic indices pared early morning gains to end over 1% lower on Tuesday.

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The S&P BSE Sensex ended the day at 33,317, down 430 points, while the broader Nifty50 index settled at 10,249, down 110 points.

Banking shares were under pressure with Nifty PSU bank index hitting 52-week low of 2,917 on the National Stock Exchange (NSE). The index fell below its earlier low of 2,928 recorded in October 19, 2017 in intra-day trade.

Bank of India, Canara Bank, Union Bank of India, Allahabad Bank and Andhra Bank from the Nifty PSU Bank index touched their respective 52-week lows on the NSE in intra-day trade.

As a part of investigation into the PNB scam, ICICI Bank chief Chanda Kochhar and Axis Bank's Shikha Sharma have been summoned by an anti-fraud agency in the bank fraud case involving jeweller Nirav Modi and his partner and uncle Mehul Choksi. ICICI Bank is believed to have extended a loan of Rs 10 billion and Axis Bank Rs 7 billion last year to Gitanjali Gems of Choksi.


Asian share regained some ground on Tuesday after US President Donald Trump faced growing pressure from political allies to pull back from proposed steel and aluminum tariffs, easing investor worries about an imminent trade war.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.5 per cent, snapping five straight days of losses, while Japan’s Nikkei jumped 1.8 per cent from a five-month low.

(with inputs from Reuters)

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Company Price Gain (%)
Hind. Unilever1,625.001.09
Kotak Mah. Bank1,328.400.62
Sun Pharma.Inds.579.000.47


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