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Share market: Sensex turns choppy; Nifty below 10,800; PNB rises nearly 2%;Reliance Comm rises 6%

Share market LIVE updates: Sensex and Nifty have turned choppy this afternoon amid mixed macro cues like weakening rupee and easing crude prices. Sensex is trading about 40 points lower at 35,879.21. Nifty saw similar movement, shedding 7.9 points, 0.05 per cent, to 10,783.
Shares of Punjab National Bank (up 1.96 per cent), YES BankNSE 2.26 % (up 0.80 per cent), ICICI BankNSE 1.06 % (up 0.69 per cent) and Federal Bank (up 0.45 per cent) were the top performers in the index. 



IDFC Bank (down 0.76 per cent), IndusInd Bank (down 0.57 per cent), Axis Bank (down 0.50 per cent) and Kotak Mahindra Bank (down 0.43 per cent) were trading in the red. 

Shares of YES Bank, Motherson Sumi, Indian Oil Corp, Idea Cellular, Bharti Airtel, ICICI Bank, Tata Motors, Ashok Leyland, SBI, Indiabulls Housing Finance, Bank of Baroda and Sun Pharma were among the most traded shares on the National Stock Exchange. 

RBI Board Meeting Gets Underway

The crucial central board meeting of the Reserve Bank is underway today morning to discuss contentious issues including a new economic capital framework(ECF) for the central bank and relaxation in the prompt corrective action norms for at least some of 12 state-run banks.This is the first board meet chaired by the newly-appointed Shaktikanta Das, who took over as the 25th governor on Wednesday.In the previous board meeting, held on November 19, the board had decided to constitute a committee of experts to fix the appropriate level of economic capital framework (ECF) that the central bank should hold at any given time and the membership and terms of reference of which will be jointly determined by government and RBI.

Shares of Reliance Communications rose 6.6 percent intraday Friday after Supreme Court directed Department of Telecommunications (DoT) to issue NOC to allow company the spectrum sale within 2 days.

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