Nifty, Sensex continue to be volatile on geopolitical news- Thursday closing report
The major indices of the Indian stock market opened higher on Thursday over Wednesday’s closing price, remained volatile throughout the trading session and closed in the red. On the NSE, there were 1074 advances, 639 declines and 354 unchanged. The trends of the major indices in the course of Thursday’s trading are given in the table below:
The market indices on Thursday opened higher, despite a muted trend in global markets, and in spite of tension between India and Pakistan escalating further a day earlier. The Sensex, which had closed at 35,905.43 on Wednesday, opened higher at 36,025.72. Asian indices were showing mostly a negative trend.
Banking Secretary Rajeev Kumar on Thursday said the PSU banks have recovered Rs 98,000 crore in the first three quarters of the current financial year. The provision coverage ratio (PCR) of the banks for bad loans have also risen to 70 per cent from 46 per cent after the asset quality review (AQR) last year, he said at an event on banks' reforms journey. Kumar said the PSU banks have recovered Rs 2.87 lakh crore since 2015.
SEBI has barred Phillip Commodities India from commodity broking following probe into the Rs 5,600 crore NSEL scam. Phillip Commodities is the latest brokerage firm to feel the Securities and Exchange Board of India's (SEBI) heat. The order issued late on Wednesday declared the firm unfit to operate as a commodity derivatives brokerage. Prior to this, the commodity arm of Motilal Oswal, India Infoline, Anand Rathi and Geofin Comtrade were barred from operating in the commodity derivatives segment. SEBI is probing as many as 300 brokers for violating rules colluding with the National Spot Exchange Ltd (NSEL) to defraud investors.
Scrip of Jet Airways fell over 6 per cent on Thursday as the already struggling airline grounded more aircraft, taking the total to 13, over its non-repayment of dues to lessors. Following the development, Jet’s share price dropped by 6.5 per cent during the early hours of the trade. Earlier the airline had informed the stock exchanges that it had grounded six aircraft. The additional grounding of seven more that came on Wednesday, might impact around 35 flights. “The company is actively engaged with all its aircraft lessors and regularly provides them with updates on the efforts undertaken by the company to improve its liquidity,” the airline said in a regulatory filing on Wednesday. Some reports even suggested that the airline might have already grounded more than 20 aircraft over shortage of spare parts and inability to pay the lessors.
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below: