Stock market bounces back; banks, metals shine
Sensex was up 599.34 points, or 0.83 per cent at 73,088.33, while the Nifty was up 151.20 points or 0.69 per cent at 22,147.
Shares of Punjab National Bank recovered all its early losses and ended over 3 per cent higher on value-buying.
The stock which declined 6.45 per cent to Rs 92 during the day on BSE, bounced back during the fag-end of trade. The stock finally ended at Rs 101.35, up 3.05 per cent.
At NSE, shares of the company settled with a gain of 3.10 per cent to close at Rs 101.40.
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In terms of equity volume, 167.83 lakh shares of the company were traded on BSE and over 21 crore shares changed hands at NSE during the day.
Shares of PNB slumped during the morning trade after Nirav Modi’s Firestar Diamond filed a bankruptcy plea in the US, and a local court in Mumbai issued summons to the accused diamantaire.
The stock had plummeted over 12 per cent in the previous trading session, registering its fourth straight session of fall.
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