Asian stock markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.2% while the Hang Seng is down 0.8%. The Shanghai Composite is trading down by 0.3%. US stocks were mixed on Wednesday, with the Nasdaq gaining on the strength of tech stocks while the S&P 500 was little changed as it marked its longest bull-market run.
Back home, India share markets have opened the day marginally higher. The BSE Sensex is trading up by 65 points while the NSE Nifty is trading up by 15 points. The BSE Mid Cap index and BSE Small Cap index both opened the day up by 0.2%.
The rupee is currently trading at 69.67 to the US$.
Sectoral indices have opened the day on a mixed note with healthcare stocks and FMCG stocks witnessing maximum buying interest. While automobile stocks and metal stocks have opened the day in the red.
To know what’s moving the Indian stock markets today, check out the most recent share market updates here.
In the news from the economy. The Finance Ministry has warned chief executive officers (CEOs) of public sector banks (PSBs) to check their NPA accounts exceeding Rs 500 million for the possibility of any fraud or they could face criminal conspiracy charges.
The warning has been issued following allegedly siphoning off funds by Bhushan Steel’s erstwhile promoter Neeraj Singal.
Reportedly, the bankers could be held accountable under Section 120B of Indian Penal Code if they fail to report fraud in an account which is later unearthed by investigating agencies.
If the investigating agencies find diversion of funds in those defaulting accounts, bankers may be liable to face criminal proceedings.
More than a dozen companies undergoing bankruptcy resolution are being reviewed by banks and investigating agencies for fraudulent activities including diversion of funds.
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