Sensex, Nifty rangebound; PSU Bank surges 2%; Europe higher

Benchmark indices remained rangebound in afternoon trade, with the Nifty gyrating in a 20 points range after investors digested Union Budget and waited for RBI policy.

The 30-share BSE Sensex fell 14.25 points to 28212.36 and the 50-share NSE Nifty slipped 3.40 points to 8730.85.

The BSE Midcap and Smallcap indices gained 0.6-1 percent as about 1548 shares advanced against 1129 declining shares on the exchange.

PSU Bank index outperformed other indices, rising 2 percent as PNB, Bank of Baroda, Canara Bank and SBI gained 1-4 percent.

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Posted in: Indian Market Tips