ICICI Bank drops 2% as bank, Kochhar come under SEC lens.

NEW DELHI: Shares of ICICI BankNSE -0.24 % fell 2 per cent in Monday's trade amid reports that the US markets regulator, the Securities and Exchange Commission (SEC), has started a probe against ICICI Bank, its chief Chanda Kochhar and her family members.
Besides, the Indian regulators and investigative agencies are mulling seeking help from their overseas counterparts, including in Mauritius, as part of their own probes, officials told PTI. 
The stock declined 1.72 per cent to hit a low of Rs 283.20 on BSE. The scrip later cut losses to 0.3 per cent. Shares of ICICI Bank are also listed on US bourses. Company Summary NSEBSE ICICI Bank-0.70 (-0.24%) When asked about its probe into matters related to ICICI Bank and Ms. Kochhar, a spokesperson for the SEC Office of Public Affairs declined to comment while queries sent to ICICI Bank also remained unanswered, the report added.

Sensex jumps nearly 150 pts, Nifty50 tops 10,800; Inox Wind drops 8%

NEW DELHI: Benchmark indices Sensex and Nifty logged solid gains after witnessing a modestly positive start to the trade on Monday. 

At 09:25 am, Sensex was trading 135 points higher at 35,578 while NSE's Nifty50 index topped 10,800-level to trade at 10,809. 

Among individual stocks, Inox Wind slumped as much as 8.6 per cent after its auditor Patankar & Associates (P&A) resigned, citing time constraints due to other commitments and engagements. The company in a statement stressed that this is not a case of an abrupt resignation of statutory auditors because of any issues in the financial statements, or other corporate governance issues. 

At 09:28 am, shares of the company were trading at Rs 91.20 apiece on NSE, down 2.04 per cent. 

Shares of ICICI Bank were trading over 1 per cent lower at Rs 285.10 apiece on NSE after reports surfaced that the lender and its CEO Chanda Kochhar have come under the scanner of the US markets regulator SEC (Securities and Exchange Commission). 

According to the sources, SEC is actively looking into the matter as ICICI Bank is listed in the US also and it may seek further details from its Indian counterpart the Securities and Exchange Board of India (Sebi), which has already issued show-cause notices to ICICI Bank and Kochhar as part of its probe, PTI reported. 

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Opening Bell (11 June 2018)

Opening Bell:

Nifty - 10,781.85

Bank Nifty - 26,473.20

Sensex - 35,472.59

Market Update: Nifty pharma outperforms, jumps 2.5% led by Sun Pharma; HPCL, BPCL shed 2%

The breadth of the market favoured declines, with 768 stocks advancing, 803 declining and 476 remaining unchanged. On BSE, 949 stocks advanced, 887 declined and 73 remained unchanged.

The broader indices continue to trade on a negative note this Friday morning with the Nifty trading lower by 31 points at 10,736 and the Sensex shed 87 points at 35,375.
Nifty IT was up close to 1 percent led by KPIT Tech, Tata Elxsi, Tech Mahindra and Tata Consultancy Services.
Bank Nifty was down dragged by ICICI Bank, Yes Bank, Federal Bank and Axis Bank.

Oil & gas stocks are also trading weak with HPCL and BPCL down 2 percent while Reliance Industries was also down.

However, pharma stocks outperformed with the Index up over 2 percent led by Sun Pharma, Aurobindo Pharma, Cipla, Dr Reddy's Labs and Glenmark Pharma.
The top gainers among Nifty constituents were Sun Pharma, Lupin, Dr Reddy's Labs, Cipla and Tata Motors.
The most actively traded stocks on the NSE were  Tata Motors, Strides Shasun, Tata Steel, Tech Mahindra and Sun Pharma.
Some of the top gainers on BSE were Strides Shasun, Vakrangee, UCO Bank, Ajanta Pharma and CG Power .
Infosys and Firstsource Solutions were the few stocks that hit fresh 52-week highs in the morning trade.
On the other hand, 44 stocks hit a new 52-week low. These include Kwality, Alembic Pharma, Manpasand Beverages, VA Tech Wabag and Videocon Industries among others.
The breadth of the market favoured declines, with 768 stocks advancing, 803 declining and 476 remaining unchanged. On BSE, 949 stocks advanced, 887 declined and 73 remained unchanged.