While Sensex, Nifty Surge, Over A Dozen Stocks Lose Big

Indian shares flat; state-run banks lead falls

Markets start on firm note: Sensex rises 173 points, Nifty gains 41 points on positive growth numbers

In addition, public sector bank Punjab National Bank (PNB), on Wednesday, said it has detected some fraudulent transactions worth Dollars 1.171 billion (about Rs 11,334.4 crore) and the matter has been referred to law enforcement agencies for recovery.

The Reserve Bank of India abolished half a dozen existing loan-restructuring mechanisms and instead provided for a strict 180-day timeline for banks to agree on a resolution plan in case of a default or else refer the account for bankruptcy.

The Nifty Private Bank index was trading 0.87 per cent up at 14,340 around 10:45 am (IST). On the BSE, the barometer 30-scrip Sensitive Index (Sensex), which opened at 34,207.57 points, traded at 34,381.94 points - up 225.99 points or 0.66 per cent from its previous close.

At 1220 hrs, the BSE Sensex rose 227 points or 0.67 per cent at 34,383.83.

Shares of GAIL rose over 1% as investors shrugged off marginally lower-than-expected Oct-Dec net profit on 1-for-3 bonus share issue.

The Nifty PSU bank index shed as much as 2.8 percent, with SBI leading the decline with a 2 percent fall.

Japanese stocks were higher despite fresh gains for the yen, which had sent the Nikkei Stock Average to four-month lows on both Tuesday and Wednesday.

Other losers included ONGC, Sun Pharma, TCS, Power Grid, NTPC, ITC, Bajaj Auto, Maruti Suzuki, Dr Reddy's, Tata Steel, Hero MotoCorp, Infosys, Kotak Mahindra Bank and Asian Paints, falling up to 2.62 per cent.

On the macro front back home, wholesale price index (WPI) inflation dropped 2.84 per cent in January from 3.58 per cent in December of 2017.

Among individual stocks, Punjab National Bank (PNB) continued its journey south on Thursday with the stock slipping almost 8 percent.

Here's How Bollywood Is Celebrating Valentine's Day
Former Red Wing Burns US Men's Hockey Team In Olympic Opener