Key indices settled lower after choppy trades on Wednesday’s closing, with the nifty settling at 10,500 and Sensex closing 144 points lower. Banking stocks suffered most with Nifty PSU Bank down 4.78% and Nifty Bank 1.40%.
The NSE Nifty 50 fell 38.85 points or 0.37 percent to 10,500.90 whereas BSE Sensex closed lower by 144.52 points, or 0.42 percent to 34,155.95.
Nifty PSU Bank was down 5% as Punjab National Bank (PNB) fell over 10% after the bank said it detected over USD 1.77 billion fraudulent transactions.
Oriental Bank of Commerce, Allahabad Bank, Bank of India, Union Bank of India and Canara Bank plunged at a range of 5 to 8 percent.
Among the sectoral indices, energy, telecom, capital goods and industrials traded higher.
Coal India, Bharti Airtel, Reliance and Adani Ports were among the major gainers, whereas shares of Yes Bank, Axis Bank, ONGC and State Bank of India fell.
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