Indices end flat, Nifty settles at 10890; PSU banks gain

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Mumbai, Jan 16: The benchmark indices settled flat on Wednesday amid mixed trade in Asian markets.
The S&P BSE Sensex ended at 36,321, up 3 points or 0.01 per cent, while the broader Nifty50 index settled at 10,890, up 4 points or 0.03 per cent.
Among the sectoral indices, Nifty PSU Bank index rose 0.6 per cent led by gains in the stock prices of Punjab National Bank (PNB), Union Bank of India and Indian Bank.
In the broader market, the S&P BSE MidCap index settled at 15,187, down 3 points or 0.02 per cent, while S&P BSE SmallCap index gained 21 points or 0.14 per cent to end the day at 14,660.
Buzzing Stocks
Shares of Jet Airways slipped 8 per cent at Rs 271 apiece on BSE after media reports suggested Etihad Airways offered to invest in the debt-laden carrier at a discounted rate of Rs 150 per share.
Shares of Torrent Pharmaceuticals rose for the sixth straight day, settling 2.6 per cent higher at Rs 1,940 apiece, hitting a new high on the expectations of healthy financial results for the quarter ended December 2018 (Q3FY19).
Global Markets
Global share markets and the sterling weathered a UK political storm as investors wagered that London will have no choice but to delay its Brexit deadline to avoid a disorderly exit from the European Union. Trading in Asian equities on Wednesday broadly mirrored overnight resilience in the face of the latest setback for British Prime Minister Theresa May.
MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.14 per cent in late trade, with Australian shares hitting two-month highs and South Korea’s Kospi and Hong Kong’s Hang Seng reaching six-week tops. Japan’s Nikkei lost 0.55 per cent while China’s blue-chip CSI300 index of Shanghai and Shenzhen shares was flat, holding on to most of the previous session’s gains, when it rose nearly 2 per cent.
Oil Prices
Oil prices firmed on Wednesday after climbing about 3 per cent in the previous session as expectations that OPEC-led supply cuts will tighten markets despite signs of a global economic slowdown. Brent crude oil futures were at $60.83 per barrel, 19 cents, or 0.3 per cent above their last close. West Texas Intermediate (WTI) crude futures were up 10 cents, or 0.2 per cent, at $52.21 a barrel.