Sensex, Nifty consolidate; Bharat Financial, Biocon most active

Equity benchmarks remained volatile with the Nifty hovering around 8500.

The 30-share BSE Sensex was down 23.44 points at 27687.08 and the 50-share NSE Nifty declined 4.70 points to 8505.40. About 1198 shares advanced against 910 advancing shares on the BSE. 

Moody's on PSU banks capital infusion: 
Government's Rs 23,000-crore equity infusion will provide some respite to the public sector banks (PSBs), but their capital needs are significantly higher than the budgeted amount, Moody's Investors Service has said. 

The firm estimates that the 11-rated PSBs need Rs 1.2 lakh crore capital to shore up their balance sheets, which far exceeds the Rs 45,000-crore budgeted for disbursal to the banks by March 2019. 

"The capital infusion will provide some respite for the recipient banks, especially those with weak capitalisation," Moody's said, adding the infusion is positive for banks, but their capital needs remain elevated. 

Earlier this week, the government announced a Rs 22,915 crore capital infusion into 13 PSBs. This is the first tranche of infusion and more funds would be provided based on their performance.

                                       

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