Nifty Ends Higher After Choppy Trading Session

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Nifty closed at 9618 level higher by 11 points and Sensex closed at 31155 level higher by 52 points. Broader market indices performed in line with the major indices in the market.

BSE Small-cap index closed higher by 0.46% at 15588 level while BSE Mid-cap index closed almost flat at 14799 level on Wednesday.

There were 655 advances, 783 declines and 60 unchanged stocks on NSE reflecting slightly negative undertone floating in the market.

In a latest development regarding resolution of non-performing assets, the Reserve Bank of India (RBI) has identified 12 bad accounts for immediate resolution under the Insolvency and Bankruptcy Code (IBC). RBI did not reveal the names of bad accounts. The Internal Advisory Committee (IAC) noted that under the recommended criterion, 12 accounts totalling about 25% of the current gross NPAs of the banking system would qualify for immediate reference under IBC.

PSU Bank stocks surged in the second half of the Wednesday’s trading session. Allahabad Bank was the top gainer in the Nifty PSU Bank index closed higher by around 7.38% at Rs 72 per share. Andhra Bank and Syndicate Bank closed higher by over 4%.

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