Weak global cues and profit booking pull down indices
Sensex, which was down 250 points during intraday trade managed to cut down its losses at the close of business.
Although Punjab National Bank (PNB), which reported its latest March quarter earnings on Wednesday, posted a net loss of 5370 crore -- due to higher provisioning for bad loans -- the biggest quarterly loss in the history of Indian banking, PSU banking stocks fared well. PNB's shares gained three per cent.
Some of the stocks that gained on Wednesday were State Bank of India, ONGC, Lupin, Larsen & Toubro and HCL Tech while Bosch, ZEEL, Bajaj Auto, Hero MotoCorp and Mahindra & Mahindra saw a dip in share prices.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
