sensex today: Sensex loses 400 points as PNB fraud investigation intensifies
30-share BSE Sensex lost 429.58 points to close on 33,317.20. The broader 50-share NSE Nifty also lost more than a per cent to slip a shade below the 10,250-mark. Tuesday marked the fifth successive day of losses for the equity markets.
The markets came under pressure in mid-day trading after Serious Fraud Investigation Office (SFIO) summoned ICICI Bank chief Chanda Kochhar and Axis Bank’s Shikha Sharma in relation to the PNB fraud case. News agency IANS quoted sources to report that the two top bank officials were summoned for giving loan facility to Gitanjali Group and would be questioned. ICICI Bank is believed to have extended a loan of Rs 1,000 crore and Axis Bank Rs 700 crore last year to Gitanjali Gems of Choksi. According to another source, officials of country’s largest lender State Bank of India have been called for questioning.
The report took its toll on the already volatile bank stocks as the Nifty PSU Bank sub-index tanked almost 3 per cent. ICICI Bank, Axis Bank and SBI scrips lost 2.6, 2.8 and 1.3 per cent respectively, on the BSE. However, all other sectoral sub-indices also lost more than 1 per cent each even as global and Asian cues were positive.