Market ends marginally low; realty, PSU banks shine
Sensex and the Nifty 50 ended with mild losses due to profit booking following a steep rise of almost 2% in the previous session.
Sensex and the Nifty 50 ended with mild losses due to profit booking following a steep rise of almost 2% in the previous session.
Sensex closed 487 points, or 0.66%, higher at 74,339.44 while the Nifty closed the day with a gain of 168 points, or 0.75%, at 22,570.35 on the monthly F&O expiry day.
The Nifty-50 reached the milestone of 20k last month.
The Union finance minister credited ‘Twin Balance Sheet Advantage’ to various reform measures adopted by the government.
Current Account Savings Account (CASA) for BoM saw 24.47 per cent rise, the highest among the public sector lenders, during the year.
The meeting earlier to be held by Prime Minister Narendra Modi is now scheduled to be chaired by Finance Minister Nirmala Sitharaman.
Mallya, who is facing extradition to India from the UK, said while the PSU banks bailed out Jet Airways they allowed his Kingfisher Airlines to “fail ruthlessly”.
The provision coverage ratio (PCR) of the banks for bad loans have also risen to 70 per cent from 46 per cent after the asset quality review (AQR) last year.
Some of these banks have come under pressure because of interest paid to their bondholders of Additional Tier 1 (AT-1) bonds, sources said.
Public money is “extremely safe” in state-owned banks, Finance Minister Piyush Goyal said on Tuesday against the backdrop of several…
