Sensex, Nifty choppy; PSU Bank rally, Yes Bank snaps 4-day fall

Equity benchmarks remained directionless in afternoon trade after falling more than 2 percent in previous two consecutive sessions on fears of Fed rate hike soon.
The 30-share BSE Sensex was down 37.41 points at 28316.13 and the 50-share NSE Nifty declined 4.45 points to 8711.1.
However, the broader markets maintained outperformance with the BSE Midcap and Smallcap indices rising 0.6 percent and 0.85 percent, respectively on positive breadth.
About two shares advanced for every share falling on the exchange.
Nifty PSU Bank climbed over 1.5 percent on hopes of rate cut by RBI after fall in retail inflation to near 5 percent in August from 6.07 percent in July.
Yes Bank rebounded 2 percent after falling 16.3 percent in previous four consecutive sessions due to company deferred its USD 1 billion QIP issue.

 

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