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Sensex ends 145 pts down, Nifty at 10,501; PNB crashes over 10%

SI Reporter/New Delhi 14 Feb 18 | 03:31 PM


The benchmark indices ended lower on Wednesday taking cues from its key Asian peers.

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The S&P BSE Sensex ended at 34,156, down 145 points while the broader Nifty50 index settled at 10,501, down 39 points.

Among stocks, Punjab National Bank (PNB) declined 10% on BSE during the 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. The development triggered a fall in most other banking stocks, with the Nifty Bank index slipping around 5%.

In global markets, Asian stocks ended mixed in cautious trade Wednesday ahead of Lunar New Year holidays and the US inflation report due later in the day, which may provide further cues on interest-rate changes in the world's largest economy.

Japanese shares hit a four-month low as the dollar slid to a 15-month low against the yen and data showed the country's GDP grew at a slower than expected 0.5 percent annual pace in the fourth quarter, marking the eighth straight quarter of expansion.

The Nikkei average dropped 90.51 points or 0.43 per cent to 21,154.17, the lowest closing level since October 12, 2018. The broader Topix index closed 0.82 per cent lower at 1,702.72 amid across-the-board selling.

Chinese stocks eked out modest gains in thin trade ahead of the week-long Lunar New Year holiday starting on Thursday. The benchmark Shanghai Composite index rose 14.20 points or 0.45 per cent to 3,199.16. Hong Kong's Hang Seng index was up as much as 2.5 per cent in late trade after having shed over 9 per cent last week.

(with Reuters inputs)

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Company Price Gain (%)
Coal India291.552.59
Axis Bank636.201.92
Sun Pharma.Inds.635.251.69


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