May 06, 2025 01:08 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Centre asks several states to conduct security mock drills amid tensions with Pakistan, first since 1971 | PM Modi holds meeting with Defence Secy as India plans retaliation against Pahalgam attack | Terror hideout busted in Kashmir's Poonch amid India-Pak border tensions after Pahalgam attack | India snaps water flow to Pakistan from Baglihar dam on Chenab river in Pahalgam fallout | Trump imposes 100 percent tariff on non-US films, says 'Hollywood dying a very fast death' | Pahalgam fallout: India suspends Pakistan I&B minister Ataullah Tarar's X account | India bans all imports from Pakistan in Pahalgam terror attack fallout | Yunus aide threatens Bangladesh would occupy North East states if India attacks Pakistan | Pahalgam aftermath: Pakistan test-fires ballistic missile with 450-km range amid escalation in tension with India | 'Your govt stands at a historic crossroads': Tejashwi Yadav to PM Modi on caste census move

Indian benchmark indices draw strength from RBI stance

| | Mar 02, 2016, at 10:52 pm
Mumbai, Mar 2 (IBNS) The Indian benchmark indices rallied for the second consecutive day on Wednesday to maintain their record gain in seven years riding on the back of performing banks stocks.

Bank stocks got a fillip after the Reserve Bank of India (RBI) on Tuesday changed rules that determine banks' regulatory capital.

The BSE Sensex climbed 463.63 points to 24242.98 and the NSE Nifty went up 146.55 points to 7368.85.

On Tuesday, while the market was expecting the RBI would consider a rate cut after the Union Budget, the central bank decided to provide additional capital to the banking sector by tweaking its capital regulatory rules.

Banks that have been struggling with higher non performing assets issue have welcomed the move, according to industry reports.

On Wednesday, SBI was the biggest gainer.

Other notable gainers included Hindalco, ICICI Bank, Adani Ports, Hero Motocorp, PNB and Bank of Baroda.

Some of the top losers included ITC, Coal India, Sun Pharma and Bajaj Auto.

Shares in the Asian market too rallied to their two-month highs on Wednesday as overnight gains in oil prices and some positive economic data from the US and other countries offset fears of a global economic slowdown, according to media reports.
 

 

Image: Wikimedia Commons

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
PM Modi on Budget 2024 Jul 23, 2024, at 09:30 pm
Close menu