Caution ahead of the release of inflation macro-data, along with increased chances of a US rate hike and anxiety over upcoming quarterly results tumbled the Indian equity markets on Thursday.
Indian stocks tumbled like nine pins today, with the benchmark Sensex plunging over 439 points to close at a three-month low of 27,643.11 after a slew of global factors such as weak Chinese export data and Fed rate hike talks unnerved investors.
Moody's Investors Service on Thursday said the asset quality of retail loans backing Indian asset-backed securities (ABS) will improve over the next two years, despite an expected uptick in non-performing loans.
The rupee-denominated bonds or masala bonds are instruments through which Indian entities can raise funds by accessing overseas capital markets, while the bond investors hold the currency risk.
Sensex plunged over 265 points to crack below the 28,000-mark as investors indulged in trimming their bets after the minutes of the US Federal Reserve's September meeting indicated a possible rate hike this year.
A sharp decline in profitability and mounting losses could wipe out the revenue reserves of some PSU banks and hamper their near-term ability to pay interest on the bonds issued to meet Basel III norms, Crisil Ratings said today.
ICICI Bank Wednesday announced that it has successfully executed transactions in international trade finance and remittances using blockchain technology in partnership with Emirates NBD.
ICICI Bank Wednesday said it will this month-end redeem bonds worth USD 340 million, issued by its Bahrain branch in 2006.
The year 2016 is set to be a record-breaking year for Indian IPO market as 50 firms have entered Dalal Street with initial share-sale offers to garner USD 2.93 billion and an impressive pipeline is already in place for the coming months.
Markets will remain closed on Wednesday on account of Muharram.
Net profit for Nifty 50 companies is likely to grow by 6 percent during the second quarter of the current fiscal year-on-year, the highest level in eight quarters, says a report.
Having decided to advance the budget presentation, the government is keen that it is not presented in the middle of Assembly elections in five states, said Finance Minister Arun Jaitley.
To cash in on the 7th Pay Commission payout to government employees, state-owned Punjab National Bank(PNB) is offering them home and auto loans at attractive rates of 9.3-9.8 percent beginning this month.
Government may merge two large state banks in the coming fiscal year once a cleanup of bad assets has run its course.
Equity mutual funds witnessed an inflow of over Rs 3,700 crore in September, taking the total investment to more than Rs 22,000 crore in the first six months of the current fiscal.
BSE, NSE, Forex, Money Market, Bullion and other major commodity markets will remain closed on Tuesday on account of Dussehra.
Direct tax collections during the six months ended September grew about 9 percent to Rs 3.27 lakh crore, buoyed mainly by personal income tax mop-up.
Stressed loans in India`s banking sector crossed $138 billion in June, central bank data reviewed by Reuters shows, an increase of nearly 15 percent in just six months that suggests a state clean-up effort will take longer and cost more than expected.
Tax collected under the country's biggest black money disclosure will help cushion revenue shortfall from the sale of telecom spectrum and help manage the fiscal situation, Finance Minister Arun Jaitley said on Monday.
Jammu and Kashmir Bank is willing to offer Islamic banking to customers in the state and would examine the proposal after taking the Reserve Bank on board, its chairman Parvez Ahmad said on Monday.