Broader markets mirrored the up move on Tuesday while India VIX gained 2.2%.
Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity benchmarks recouped all intra-day losses on Tuesday to close the day with gains. S&P BSE Sensex ended at 49,517, while the 50-stock NSE Nifty closed at 14,563. Bharti Airtel, State Bank of India, and Reliance Industries were the top gainers on Sensex while Nestle, Titan, and Asian Paints were the top drags. Among sectoral indices, Nifty PSU bank index surged 5.8%. Only Nifty FMCG and Nifty Pharma closed the day in red.
The central bank on Monday said that the gross non-performing asset (GNPA) ratio of banks could double to reach 13.5% by September this year in a base scenario while on the higher side it is expected to reach 14.8%. The GNPA ratio is used to assess loan losses in the banking sector. The RBI in the report said that if a severe stress situation occurs the bad loan ratio of the banking system could be the highest since March 1997, when it stood at 15.7%. RBI Governor Shaktikanta Das, in the report, said that India’s banking system faced the pandemic with relatively sound capital and liquidity buffers built assiduously in the aftermath of the global financial crisis and buttressed by regulatory and prudential measures.
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