Banking shares are continue reeling under pressure with the country’s largest PSU bank State Bank of India (SBI), ICICI Bank and Bank of India hit their respective 52-week lows.

The CNX PSU Bank index, a gauge of public sector banks, hit a fresh 15-month low on the National Stock Exchange (NSE) on the back of weak macro economic data.

The benchmark BSE Sensex recovered over 455 points to cross 26,000 level in early trade, while NSE Nifty crossed the 7,900 mark on short covering by participants on expiry of derivatives contracts and strong global cues.

The 30-share barometer spurted by 455.73 points, or 1.77%, to 26,170.39. On Wednesday, it had lost 317.72 points.

Banking shares continue under pressure, with the National Stock Exchange (NSE) Bank Nifty cracking over 5% or nearly 1,000 points in intra-day trade as the global markets crashed owing to concerns over economic slowdown in China, the world’s second largest economy.

Bank of India, Punjab National Bank, Canara Bank, Yes Bank, Bank of Baroda and Federal Bank are down more than 7% each.

MUMBAI: The benchmark BSE Sensex rose by 29 points in early trade on Thursday on increased buying by funds and retail investors despite a weak trend Asian markets.

In a volatile trade, the 30-share barometer advanced by 29.00 points, or 0.10 per cent to 27,960.64 after slipping to 27,828.12. The gauge had gained 100.10 points on Wednesday.

Benchmark share indices opened lower amid profit taking at higher levels with index heavyweights leading the decline.

However, PSU banks were in focus with Bank of Baroda leading the gains after the government launched seven-pronged revamp plan to revive the ailing PSU Banks, including a Rs 20,000-crore capital infusion lifeline.

Markets have gained momentum with Nifty heading towards 8,500 levels after China's central bank today raised the value of yuan against the US dollar by 0.05%, putting a stop to the 3-day fall in the currency. Meanwhile, investors stepped up buying in bluechips at attractive valuations after inflation eased raising hopes of a rate cut by the RBI.

A further decline in the crude oil prices has boosted the sentiments it will help India in controlling the fiscal deficit.

The National Stock Exchange (NSE) is all set to increase the number of listed companies on its small and medium enterprises trading platform.

At least ten companies are in the process of getting listed on the exchange this fiscal. This includes companies to be listed on the NSE Emerge platform through an initial public offering (IPO) and the NSE Emerge-ITP where companies are listed without an IPO.

The key benchmark indices BSE Sensex and NSE Nifty gained around 0.4 per cent to 28,236.39 and 8,564.60 respectively for the week ended August 8, 2015. The BSE Sensex and NSE Nifty were at 28,114.56 and 8,532.85 on July 31(last week). Market experts believe domestic equity markets are likely to remain volatile in coming weeks.

Between July 31 and August 7, the BSE Realty index gained 3.59 per cent at 1,437.20. It was followed by the BSE Auto index (up 3.44 per cent at 19765.17), BSE Consumer Durables index (up 2.95 per cent at Rs 11413.47) and BSE Healthcare index (up 2.78 per cent at Rs 17,521.15). The BSE Power index remained flat at 2,064.21.

The Bombay Stock Exchange has decided to shift stocks of 91 companies to the restricted trading segment from August 11 to ensure safety in capital markets and safeguard the interest of investors.

The National Stock Exchange (NSE) will also move 24 securities to this category.

Markets continued to remain range bound in late trades on Thursday as gains in pharma and capital goods shares helped offset losses in index heavyweights.

India which deferred the talks with the European Union on the proposed free trade agreement expressing disappointment and concern over the EU banning sale of around 700 pharma products clinically tested by GVK Biosciences also aided sentiment.

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