March 20, 2019 / 5:45 AM / a month ago

Sensex closes little changed; PNB spikes after Nirav Modi arrest

People look at a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai, December 11, 2018. REUTERS/Francis Mascarenhas/Files

(Reuters) - Indian shares closed largely unchanged on Wednesday, with losses in energy and consumer stocks offsetting gains in financials and IT.

The benchmark BSE Sensex rose 0.06 percent to 38,386.75, its best close since September 2018, while the broader NSE Nifty slipped 0.1 percent to 11,521.05.

Punjab National Bank reversed its course, jumping 3.4 percent to its best close since May 2018 after British police said fugitive billionaire jeweller Nirav Modi, one of the main suspects charged in a $2 billion loan fraud at the bank, had been arrested in London on behalf of the Indian authorities.

HDFC Bank Ltd climbed 1.4 percent to a record close, while Hindustan Petroleum Corp Ltd, Bharat Petroleum Corp Ltd and Indian Oil Corp Ltd fell 2.3-5.4 percent.

Reporting by Chris Thomas in Bengaluru; Editing by Subhranshu Sahu

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