Shares of Nifty Bank erased loss to trade 0.17% higher after the Reserve Bank of India maintained the repo rate at 6.5% for the ninth straight time.
HDFC Bank Ltd., State Bank of India and Federal Bank Ltd. were among top contributors to the gain, while ICICI Bank Ltd., Axis Bank Ltd. and Kotak Mahindra Bank Ltd. weighed the index.
As of 12:07, Nifty Bank was trading 0.17% higher at 50,203.55 apiece. The NSE Nifty 50 was trading 100.64 points, or 0.41% lower at 24,196.85, and the BSE Sensex was down 315.35 points, or 0.40% at 79,152.66.
During his Monetary Policy speech on Thursday, Das highlighted that home equity loans or top-up loans provided by banks and non-banking financial companies are growing at a quick pace. Lenders are also providing these loans on other collateralised assets, such as gold loans.
Nifty PSU Bank also erased loss to trade 0.18% higher at 6,928.45 as of 12:11 p.m.
Bank of India, Union Bank of India and State Bank of India were top contributors, while Bank of Baroda, Punjab National Bank and Canara Bank negatively contributed to changes in the index.
RECOMMENDED FOR YOU
Eight Of Top 10 Most-Valued Firms Take Rs 1.65-Lakh-Crore Hit In Market Cap
Nov 17, 2024
SBI, HDFC Bank, ICICI Bank Remain Domestic Systemically Important Banks In 2024, Says RBI
Nov 13, 2024
India's CPI May Rise To 6.3% In October As Food Inflation Soars: Citi Research
Nov 08, 2024
.jpeg?rect=0%2C0%2C3500%2C1969&w=75)
Top 10 Most-Valued Firms Gain Over Rs 53,000 Crore In Market Cap, Led By HDFC Bank, SBI
Nov 05, 2024
POPULAR