Business

After rising 223 points, the 30-share index was trading 164.05 points, or 0.45 per cent, higher at 36,808.47 at 0930 hours, while the broader Nifty rose 44.15 points, or 0.41 per cent, to 10,892.05.

In a joint statement after 20th India-Russia Annual Summit, PM Narendra Modi and President Vladimir Putin also agreed that the work on promoting mutual settlements of payments in national currencies will be continued.

Forex traders said the domestic unit gained following the weakening of the US dollar vis-a-vis other currencies overseas. The dollar index, which gauges the greenback's against a basket of six currencies, fell 0.08 percent to 98.92.

Narayanan said that the combined net non-performing asset (NPA) ratio of 5.62% is well below the 6% target fixed by the Reserve Bank of India (RBI) for PCA (prompt corrective action) banks.

The stock market movement will be in focus on Tuesday after official data released last Friday showed India's GDP expanded 5% in the June quarter, marking the slowest pace of growth in over six years.

In a major push to single-brand retail, the government last week had relaxed FDI norms, and did away a provision that required companies to mandatorily set up a brick-and-mortar store before getting into online retail trading.

The unions further said United Bank, headquartered in Kolkata is being merged with the Delhi-based Punjab National Bank, while Syndicate Bank is being merged with Canara having a network in same geographical areas.

The merger of Punjab National Bank, Oriental Bank of Commerce and United Bank will form India’s second-largest bank after the State Bank of India

GDP growth stood at 7.8 per cent in the same quarter of the previous financial year and at 5.8 per cent in the last quarter.

Sitharaman, during her media address last week, had hinted that more relief measures were underway which will help in reviving the economy.

Adani Green Energy Ltd shares spiked 10% as the company signed securities purchase agreement for acquisition of 205 MW operating solar assets of Essel Green Energy and Essel Infraprojects.

Renewed hopes for US-China trade talks after Beijing indicated that it may not retaliate against the latest tariffs imposed by the US helped the domestic currency.

Sensex was trading 205.70 points, or 0.55 per cent, higher at 37,274.63 at 0930 hours, while the broader Nifty rose 61.35 points, or 0.56 per cent, to 11,009.65.

Several Indian officials met on August 14 and discussed a list of 'target companies' that also include Taiwan-headquartered contract manufacturer Pegatron Corp, a source with direct knowledge said.

After a highly volatile session, the 30-share Sensex ended 382.91 points, or 1.02 per cent, lower at 37,068.93. It hit an intra-day low of 36,987.35.

The 30-share index was trading 123.95 points, or 0.33 per cent, up at 37,618.07 at 0930 hours, while the broader Nifty rose 43.45 points, or 0.39 per cent, to 11,101.30 in early trade.