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Market Check: 8th May 2015

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1 Market Check: 8th May 2015 on Fri May 08, 2015 1:51 am

Sensex rallied 488.53 points or 1.84 percent to 27087.64 and the Nifty climbed 143.35 points or 1.78 percent to 8200.65. About 1731 shares have advanced, 621 shares declined, and 145 shares are unchanged on the BSE. 12:30pm PNB tanks 5%: Punjab National Bank (PNB) disappointed street with the fourth quarter profit falling 61.9 percent year-on-year to Rs 307 crore, dented by lower net interest inocme. Net interest income, the difference between interest earned and interest expended, fell by 5.3 percent to Rs 3,791 crore for the quarter ended March compared to Rs 4,002 crore in the year-ago period. Profit was estimated at Rs 873 crore and net interest income at Rs 4,322 for the quarter, according to a CNBC-TV18 poll. Asset quality deteriorated during January-March quarter with the gross non-performing assets (NPA) climbing 6.55 percent compared to 5.97 percent in December quarter. Net NPA rose by 24 basis points sequentially to 4.06 percent from 3.82 percent

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