The S&P BSE Sensex hovered around 47,530 levels, 80 points less. The index reached a high and low of 47,808 and 47,358, respectively. The broader Nifty50 index also fell below 19,900.
Banks and financial accountants came under pressure today after the Reserve Bank of India said that with nearly 40 percent of outstanding loans under default, India’s banking and non-bank financial sectors may face a sharp decline. on asset quality going forward. IndusInd Bank (down 2%) was Sensex’s top loser, followed by Axis Bank, Sun Pharma, Bharti Airtel, HDFC and State Bank of India (all down 1%).
Among other individual stocks, Paisalo Digital fell 10% after Elara India Opportunities Fund reduced its stake to 1.76% from 4.37% previously.
Nifty’s industry indices were largely in the red, with the Nifty PSU Bank Index, down 1.5 percent, topping the list of losers.
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