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Sensex Down 140 Points As PNB Fraud Deepens; Nifty Dips Below 10,400

Indian shares opened lower on Wednesday as trade tensions between the U.S. and China intensified and Punjab National Bank said it has uncovered additional exposure of about Rs 942 crore to Gitanjali Group under consortium lending.

The benchmark BSE Sensex was down 140 points or 0.41 percent at 33,716 in early trade while the broader Nifty index was down 41 points or 0.40 percent at 10,385.

ICICI Bank, Adani Ports, HPCL, BPCL and Infratel fell 1-2 percent in the Nifty pack, while HCL Technologies, GAIL, TCS, Ambuja Cement and Tech Mahindra rose 1-2 percent.

IndusInd Bank lost 1 percent and Bharat Financial Inclusion edged down marginally after the RBI approved their merger.

Yes Bank fell 1.3 percent after it acquired over 17 percent stake in Fortis Healthcare in view of default by promoter group companies.

NTPC slid half a percent on fund raising reports.

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