Sensex Turns Negative, Nifty Below 10,100

Benchmark indices turned sluggish ahead of the crucial outcome of the monetary policy committee’s meeting later in the day, with the Nifty below 10,100-mark.
The Sensex was down 34.88 points at 32540.29, while the Nifty was down 20.05 points at 10094.60. The market breadth, however, was negative as 1040 shares advanced against a decline of 1144 shares, while 147 shares were unchanged.
Hero MotoCorp and NTPC gained the most on both indices, while BHEL, Bajaj Auto and Indiabulls Housing were the top losers.
Punjab National Bank on Wednesday posted 12 percent gain in its June quarter net profit at Rs 343.4 crore against Rs 306.4 crore in the same period last year. But the cause of concern for the bank is the declining asset quality as net non-performing assets rose to 8.67 percent against 7.81 percent in the previous quarter.
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