Bank shares extend losses; Bank Nifty dips 1%
.jpg)
Banking shares have extended losses for the second straight session on National Stock Exchange (NSE) after the Reserve Bank of India (RBI) Governor Raghuram Rajan decided to leave repo rate unchanged at its credit policy meet yesterday.
Bank Nifty, the banking share index is down 1.2% or 235 points at 19,148 at 10.15 hours. Meanwhile, the benchmark CNX Nifty is down 22 points at 8,734.75.
State Bank of India (SBI), ICICI Bank, Bank of Baroda, Canara Bank, Punjab National Bank, Union Bank, IndusInd Bank and Bank of India are down between 0.5-3.5% on the NSE.
Having chosen to stay his hand on the repo rate, Governor Raghuram Rajan did take his foot off the brake a little by reducing the statutory liquidity ratio (SLR) by 50 basis points to 21.5 per cent of net demand and time liabilities.
“Given there was no development on the inflation or fiscal fronts since January 15, we have maintained status quo on interest rates... We have the Budget coming up. We will have new GDP (gross domestic product) numbers on February 9, which will reflect a whole new view of what is happening in the Indian economy,” Rajan told reporters after announcing the sixth bi-monthly policy review on Tuesday.
Other Latest News
.webp)
Shares of YES Bank climbed as much as 8.98 per cent to hit an intraday high of Rs 28.50 apiece on Monday, after the private lender announced a strong set of March quarter results (Q4FY24).
YES Bank’s profit jumped over 123 per cent to Rs 452 crore in Q4FY24, as opposed to Rs 202.43 crore reported in Q4FY23.
.webp)
The Congress on Monday attacked the BJP over the alleged sex scandal involving the grandson of JD(S) supremo H D Deve Gowda, with party leader Priyanka Gandhi Vadra asking whether Prime Minister Narendra Modi will remain silent on the matter.
The opposition party also asked why the BJP went ahead with its alliance with the JD(S) when a BJP leader had written to the party's Karnataka unit president, exposing the presence of a pen drive full of "sleaze videos of Prajwal Revanna".
.webp)
China is gearing up to launch a robotic spacecraft on a mission to bring back samples from the dark side of the moon. This mission is prelude to three challenging missions aimed at achieving a Chinese crewed landing and establishing a base on the lunar South pole. And it will also be the world's first attempt at collecting samples from the other side of the moon.
Since the inaugural Chang’s mission in 2007, named after the legendary Chinese moon goddess, China has made substantial strides in its lunar exploration efforts, narrowing the technological divide with the United States and Russia.
.webp)
The Japanese yen hit its weakest levels since April 1990 on Monday, in trading thinned by a holiday in Japan and attempts by traders to test key levels and stop-loss orders in a nervous, illiquid market.
The dollar rose as far as 160.245 yen in a sudden move after the yen traded in a narrow 158.05-158.15 range in early deals.
.webp)
Veteran politician, BJP MP and former Union Minister V Sreenivasa Prasad died on Monday, family sources said.
The 76-year-old Lok Sabha member from Chamarajnagar was ailing for some time and being treated at a private hospital, where he passed away early today.
.webp)
.webp)
.webp)
.webp)
.webp)
