The domestic stock markets –Sensex and Nifty–erased gains in the afternoon trade on Wednesday, on mixed cues. The Sensex ended 2.96 points higher at 36,321.29, while the Nifty closed below the 10,900-mark. Yes Bank shares closed 2.19% higher at Rs 207.40 on the BSE, while IndusInd Bank shares ended 1.86% higher at Rs 1,524.55, to emerge among the biggest Sensex gainers.
Jet Airways share price plunged by more than 7.47% to Rs 271.75, after media reports said that Etihad Airways looking to only at a price of Rs 150 per share. According to a CNBC TV18 report, Etihad Airways group CEO Tony Douglas has written to SBI Chairman regarding Jet Airways restructuring, the channel reported citing unidentified sources.
Asian shares took a breather on Wednesday after rallying the previous day on Chinese stimulus hopes, with investors assessing Brexit options after British lawmakers trounced Prime Minister Theresa May’s deal to pull out Britain from the European Union. MSCI’s broadest index of Asia-Pacific shares outside Japan was off a touch, having swung up on Tuesday after Chinese officials came out in force to signal more measures to stabilise a slowing economy.