Latest News
-
Honasa Consumer to Strengthen Operations by Merging Fusion Cosmeceutics and Just4Kids -
Wipro Reports 7.8% Decline in Q4 Net Profit; CEO Highlights Economic Challenges -
IREDA Hits Record Annual PAT of Rs 1,252 Cr in FY24; Q4 Profits Up by 33% -
Massive Employee Exodus Hits India's Top IT Companies in FY23-24 -
Air India Enhances Operational Efficiency with New Crew Management System -
BlackRock Acquires Shares in Electrosteel Castings and PTC India for Rs 207 Crore -
IndiGo Enhances Domestic Routes with Direct Chennai-Durgapur Flights -
Tesla to Recall Nearly 4,000 Cybertrucks Over Accelerator Pedal Fault -
Reliance, ONGC, Tata, Adanis: Energy Stocks Didn't Get The Memo Of Bears, Up 12% In 30-Days; 10 Stocks To BUY -
Sebi to Enhance Price Discovery for Firms Trading Below Book Value
Nifty PSU Bank Sees The Most Impact Of Intensifying Corona Situation
Even as the Asian markets were firm, Indian indices bore the brunt of rising coronavirus cases. And sectorally the most drag was witnessed by the financial pack and among it in the Nifty PSU Bank space. The index at the time of writing this copy was down over 5.7%.
The stocks from the pack pulling the index down include SBI, BOB, PNB, Bank of India and Canara Bank. SBI shares dropped as much as 5.7 percent to day's low of Rs.
The financials are seeing the brunt as a halt in economic activity due to restrictions and curfew now likely being announced in National capital will weigh on the NPAs, which are already expected to inch higher after the SC has lifted the stay on declaring loan accounts as NPAs.
Last the index traded weak by 4.63 percent.
GoodReturns.in
