Indian shares opened largely unchanged on Monday after major global markets ended Friday's session on a muted note following strong gains in 2017.
The benchmark BSE Sensex was little changed with a positive bias after clocking its best performance in recent years to jump 27.91 percent in 2017.
The broader Nifty index was marginally lower at 10,527 after rallying as much as 28.65 percent in 2017.
Punjab National Bank rose half a percent after hiking interest rates on term deposits by up to 125 basis points.
PSU rivals SBI, Bank of Baroda and Indian Bank were up between half a percent and 1 percent while private sector lenders such as ICICI Bank and Axis Bank were modestly lower.
UCO Bank jumped nearly 4 percent on reports of fund infusion from the government.
IDBI Bank rallied 2.8 percent after it pared stake in SIDBI.
Telecom giant Bharti Airtel gained half a percent. The company has launched a new version of its Airtel TV app that offers 300 LIVE TV channels.
IT major Infosys edged up 0.2 percent after divesting its minority stake in ANSR Consulting Holdings for $1 million.
Oil India added half a percent. The oil major said it has made two new hydrocarbon discoveries in Dumduma PL in the Upper Assam Basin.
Shriram Transport Finance slid 0.4 percent on fund raising reports.
by RTT Staff Writer
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