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Posted on:    15 Feb, 2018       Views:  663

Punjab National Bank scam effect to stocks market in India and shares fall

Gitanjali Gems big jewellers in india plunged nearly 19% on reports over its involvement in bank. Bank name is Punjab National Bank. The PNB fraud case in morning trade after the company came under scanner of various investigating agencies following the PNB's declaration of nearly Rs 11 thousands-crore fraud in PNB Bank. The stock of today was very low level opened on a bearish note at Rs 48. and then lost further ground to touch. lost price a low of Rs 47.50, down 18.94% over its previous closing price yesterday. Similar movement was seen on the National Stock Exchange as well., NSE where the stock tanked 18.73% to a low of Rs 47.50. Some other jewellery in india. Indian Jewellers  and stocks also witnessed similar fate with PC Jeweller slumping 19.50% to Rs 303.00, Tribhovandas Bhimji Zaveri 4.32% to Rs 110.60, and Thangamayil Jewellery 2% to 558.55 on Bombay Stock Exchange. Rajesh Exports fell 1.34% to a low of Rs 808.70 on Bombay Stock Exchange.

Punjab National Bank scam effect to stocks market in India and shares fall

PNB yesterday disclosed and pnb has detected some fraudulent transactions in mumbai bank with financial implication of USD 1.77 billion and the matter has been referred to law enforcement agencies for the recovery in Bombay Stock Exchange in india.

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"Four big jewellers in india 
1. Gitanjali 
2. Ginni, 
3. Nakshatra 
4. Nirav Modi 
These jewellers are under scanner. The CBI and Enforcement Directorate are investigation of PNB MAHAGOTALA and is looking at their arrangements with various banks and end use of money," a senior official Said about this siitutaion.

The Bombay Stock Exchange benchmark in india and BSE Sensex surged over 1 hundred sixty seven points, staging a strong recovery in early trade today on firm cues from global markets in world level.

In india, A stronger rupee against the $ also influenced market sentiment.

The Thirty-share index in BSE And NSE was trading higher by 167.12 points, or 0.48%, at 34,323.07.and the gauge had lost 144.52 points in the previous session.

The National Stock Exchange Nifty gained 47.45 points, or 0.45%, to 10,548.35 in National Stock Exchange.


Widespread buying was seen in metal, healthcare and realty counters in india. Adani ports, HDFC, ICICI Bank, SBI, Dr Reddy's,Tata Motors, Yes Bank, Reliance Industries and Maruti Suzuki were Major gainers in india, rising up to 2.17%.

Brokers of india said about this PNB Mahagotala a firm trend at other Asian markets boosted investor sentiment, following overnight gains on Wall Street as investors shrugged off stronger-than-expected inflation data.

Hong Kong's Hang Seng was up 1.69% and Shanghai Composite Index by rose 0.45% in early trade in world level. Japan's Nikkei also gained 1.33%. The US Dow Jones Industrial Average ended 1.03% higher yesterday in world level.

Punjab National Bank scam effect to stocks market in India and shares fall

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