Business

Sensex closed up a mere 153.64 points at 16,939.28 and the Nifty ended up 48.40 points at 5,098.35.

State-run SBI has been reeling under higher provisions for bad loans and lower profits in the last two quarters.

The RBI is scheduled to review its monetary policy on October 25 and September inflation data is due on Friday.

The Nifty started off strong, but soon slipped on indifferent European cues to close flat at 4.979.

Honda Siel Cars India presently exports component and engine parts from its factory in Rajasthan.

Moody's on Tuesday downgraded SBI's standalone rating due to rising bad loans and a thinning capital cushion.

Sensex fell 78.01 points to close at 16,446.02 and Nifty slipped 25.35 points to end at 4,945.90.

UBS had appointed Sergio Ermotti to replace Chief Executive Oswald Gruebel for now.

For all developing Asia, the IMF lowered its forecasts to 8.2 percent growth in 2011 and 8.0 percent growth in 2012.

Headline inflation rose to 9.8 per cent in the month of August from 9.2 per cent in July this year.

Industrial growth fell to a meagre 3.3 per cent in July this year on account of poor performance mainly by capital goods.

The rupee depreciated for the fifth consecutive session on Friday and touched a fresh one-year low at 46.49 per dollar.

Rise in European markets ahead of ECB & BoE meet as well as Obama speech too helped.

The equity benchmarks recovered more than half of its losses in the second half of the trade.

The CCEA said Cairn India must pay a Rs 2,500 per tonne cess on its 70 per cent share of oil production.

The benchmark Nikkei rose 0.9 per cent to 8,814.89, while the broader Topix gained 1.1 per cent to 758.86.