Bank Nifty also closed with a drop of over a percent led by selling in PSU Banking names. The index witnessed a false breakout on the upside early in the day but bears hammered it back lower.
NARCL#39;s net present value bid, submitted in the 10-hour-long “challenge mechanism” conducted by the committee of creditors (CoC) on Tuesday, constitutes Rs 3,200 crore in cash, a Rs 1000-crore jump from the previous plans offered, he said.
The benchmark Brent crude contract was down 1.9% on the day, after dropping 4.4% on Tuesday, pressured by weak demand data from China and a gloomy economic outlook. U.S. 10-year Treasury yields fell on Tuesday, after rising for the last two weeks. It was at 3.70%, down 13 basis points this week.