The 50-share Nifty wiped out its previous day's gain on Friday as it slipped by 73 points, breaking psychological intra-day levels on back of selling pressure in banking, realty, auto, energy, infra and media sectors, even as metal and pharma stocks bucked the trend. Overseas cues were negative.
The Reserve Bank of India (RBI) said on Friday it would look at the way banks use regulations intended to help them tackle a crippling bad debt burden, as concerns grow that lenders are using the measures to camouflage troubled loans instead.
Large promoters have the strength to "impede any action" taken by banks to recover stressed assets, Reserve Bank Governor Raghuram Rajan said on Friday, while emphasizing that banks need to quicken the pace of recovery process and not postpone it.
Shares of Mandhana Industries, the entity associated with Bollywood superstar Salman Khan, surged nearly 12 percent in intra-day trade on Thurday, after the Bombay High Court acquitted the actor of all the charges in the 13-year-old hit-and-run case.
Realty stocks gained as much as 4 percent ON after the Union Cabinet approved various amendments to the contentious Real Estate Bill. Shares of Prestige Estates Projects climbed 4.43 percent, Unitech rose by 3.26 percent, while Housing Development and Infrastructure Ltd was up 1.95 percent.
The benchmark BSE Sensex snapped a six-day losing spree today as it recovered from a three-month low and notched up gains of over 216 points in a choppy trade on the back of value-buying in recently beaten-down commodity stocks, led by Reliance Industries, Hindalco and Tata Steel.
Retirement fund body EPFO is likely to fix higher interest on PF deposits for 2015-16 than 8.75 percent provided in last two fiscals, in the retirement fund body's trustees' meeting in January, Labour Minister Bandaru Dattatreya said Wednesday.
- 7th Pay Commission recommends 23.55% hike in salary for central govt employees; minimum salary set at Rs 18,000 per month
- Shocking fact of pay 'hike' in 7th Pay Commission recommendations!
- Full Report of 7th Pay Commission
- Unbelievable! Clean and healthy meals on Indian Railways at just Rs 20
- E-commerce war: Paytm Diwali sale offers 100% cashback on 25 million products