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Sensex rises 220 points, Bandhan Bank jumps 7%, Sun Pharma down 2%

Yes Bank, SBI, Bharti Airtel, Tata Motors and Indiabulls Housing Finance are top gainers on key indices. Here are the latest updates from the markets

Indian benchmark indices BSE Sensex and NSE’s Nifty 50 continued their winning streak for a third day on Wednesday after the new RBI governor Shaktikanta Das on his first day said he would take a more consultative approach and move quickly to address some of the pressing issues. Positive cues from global markets also boosted Indian shares. Stock markets from Japan to Australia gained, with Hong Kong and Chinese stocks outperforming. SGX Nifty futures traded 48 points up at 10,836.50, indicating a positive start for the Sensex and the Nifty 50.

9.50 am IST
DLF shares down 2%
DLF shares fell as much as 2.5% to Rs 174.70 per share. The company on Wednesday said Group CFO Saurabh Chawla has resigned from the company, and the board has decided to appoint Ashok Kumar Tyagi, a whole-time director, the Group CFO.

9.23 am IST
Bandhan Bank shares up 7% as RBI allows opening new branches
Bandhan Bank shares jumped as much as 7.46% to Rs 508.70 per share after RBI allowed the bank to open 40 new branches. The bank was earlier debarred from opening new branches by the central bank of India. An email statement from the company stated that it has opened five branches and will open additional 35 branches will be opening by end of this month.

9.20 am IST
Sun Pharma shares down 2.6% on Sebi probe
Sun Pharma shares fell as much as 2.61% to Rs 420 per share after Sebi on Wednesday said it is examining the whistleblower complaint against Dilip Shanghvi-led Sun Pharmaceutical Industries. A whistleblower had last month approached Sebi with a document alleging various irregularities by the company, its promoter Shanghvi and others.

9.08 am IST
Bond prices, rupee gain as CPI inflation eases
The 10-year bond yield extended losses to hit a fresh eight-month low after CPI inflation dropped to a 17-month low, stoking speculation that the Reserve Bank of India may shift to a neutral policy stance. At 9.08am, the 10-year government bond yield fell to 7.386% from its previous close of 7.411%. The Indian rupee strengthened marginally against US dollar tracing gains in Asian currencies amid more signs the US and China are finding some common ground on trade. The currency was trading at 71.67 a dollar, up 0.48% from its previous close of 72.02.

source: livemint.com

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