BSE Sensex trades higher by 200 points, while the Nifty 50 is near 10,600. Here are the latest updates from the markets

Benchmark indices gained for the second session on Friday, with BSE Sensex rising over 200 points and NSE Nifty above 10,600. The rupee strengthened for the fourth session to hit a two-week high against the US dollar on Friday, tracking gains in its Asian peers. Sentiment also boosted after the Reserve Bank of India said it will be ready to inject adequate amount of extra cash into banks if needed ahead of March-end. Here are the latest updates from the markets:
9.42 am IST
PNB shares fall on third day, down 3%
Punjab National Bank shares fall further for the third straight session, and were down as much as 3% in morning trade after the lender said it has detected a $1.77 billion fraud.

Gitanjali Gems shares plunge 20%
Gitanjali Gems Ltd extended its fall for second day. It declined 20% to Rs37.55 after the company came under scanner of various investigating agencies following the Punjab National Bank’s declaration of nearly Rs11,400-crore fraud.

Fortis Healthcare shares rise
Fortis Healthcare Ltd shares rose 3% to Rs 147.75 after the Supreme Court has paved the way for the sale of Fortis Healthcare shares pledged to lenders by former board members Malvinder and Shivinder Singh.
RBI’s new NPA rules may hurt but will drain the swamp
While bank books might get worse over the next 12 months, in the longer term, the new NPA rules will ensure that the books reflect actual underlying asset quality.

source: livemint.com