BSE Sensex rises nearly 300 points, while the Nifty 50 trades above 10,300. Here are the latest updates from the markets

BSE Sensex rose 300 points on Monday against the previous session’s closing. The broader Nifty also rose past 10,300 level in the opening trade. The Indian rupee was trading higher against the US dollar ahead of key Consumer Price Index-based (CPI) inflation and Index of Industrial Production (IIP) data due on Monday after 5.30pm. According to Bloomberg analysts’ estimate,  IIP for January will be at 6.4% from 7.1% a month ago, while CPI for February will be 4.74% versus 5.07% last month. Here are the latest updates from the markets:

9.58 am IST
Banking stocks trade lower
Banking stocks fell. Central Bank of India declined 5%, IDBI Bank 3.5%, Oriental Bank of Commerce 3.3%, Canara Bank 3%, Allahabad Bank 2.1%, Union Bank of India 1.8%, Bank of India 1.6%, Indian Bank 1.5%, Syndicate Bank 1.1%, Indian Overseas Bank 1.1%, State Bank of India 1%, Punjab National Bank 0.9% and Bank of Baroda fell 0.5%.

9.55 am IST
Andhra Bank shares down after ED files case against former director Andhra Bank shares fell 12% to Rs34 after Enforcement Directorate on Friday filed a
supplementary prosecution complaint (chargesheet) against former Andhra Bank director Anup Prakash Garg in connection with a Rs5,000 crore bank fraud involving the Vadodara-based Sterling Biotech Ltd (SBL) of the Sandesara group of companies.

9.53 am IST
Hindalco Industries shares fall after downgrade
Hindalco Industries Ltd shares declined 1% to Rs218 after brokerage firm CLSA has downgraded the stock to sell and lowered its price target to Rs205 a share from Rs285 earlier.

9.50 am IST
India must lead the transition to green energy
The fight against climate change is likely to create the next big technological wave, an opportunity for India.

source: livemint.com