Losses in energy and consumer stocks counteracting gains in financials and IT, Indian shares is closed largely unchanged on Wednesday.
Punjab National Bank jumped 3.4 percent to its finest close since May 2018, reversing its course after British fugitive arrested billionaire jeweler Nirav Modi in London for being one of the suspects; charged in a $2 billion loan fraud at the bank, on the behalf of the Indian authorities.
Hindustan Petroleum Corp Ltd, India Oil Corp Ltd, and Bharat Petroleum Corp Ltd fell 2.3-5.4 percent whereas, HDFC Bank Ltd jumped to a record close of 1.4 percent.
Following the fluctuations, the benchmark Bombay Stock Exchange Sensex rose 0.06 percent to 38,386.75, its optimum close since September 2018, while National Stock Exchange Nifty slipped to 0.1 percent to 11,521.05.
Read EquityPandit’s Technical Analysis of Indian Stock Market