Stock markets open in green: Sensex rallies over 1,300 points, Nifty soars 348 points; IndusInd among top gainers
The markets opened on Tuesday with the Sensex rallying over 1,300 points in early trade led by gains in bank, IT and auto stocks amid recovery in global equities.
The benchmark BSE Sensex closed down 0.46 percent at 40,083.54 on Tuesday. The broader NSE Nifty ended 0.55 percent lower at 12,021.65.
If the NBFCs are able to get refinance, the markets may heave a sigh of relief and witness a relief rally.
Banks spiked loan exposure to NBFCs by one lakh crore in March, months before IL&FS crisis hit financial markets
Banks lent a whopping Rs one trillion in Feb-March to NBFCs, only months before il&fs crisis hit markets
On Wednesday, at the close of market hours, the BSE Sensex closed lower by 169.45 points or 0.45 percent at 37121.22.
Mutual Funds' assets under management surpasses Rs 19 lakh cr mark on renewed inflows in equity, debt
The industry's AUM had crossed Rs 10 lakh crore in May 2014, and it is expected to reach Rs 20 lakh crore this year
The swift response shown by a central bank under new management impressed bankers. Appointed a little over a year ago, Rajan, a former chief economist at the International Monetary Fund, is credited with making the RBI more amenable to change.<br />
Sources say the RBI will deliberately go slow in removing the cap on funds banks can borrow via the LAF, even as it unwinds other emergency measures imposed to prop up the rupee.<br /><br />
The Western central banks primarily the Federal Reserve of United States and the Bank of England, have been printing money (or quantitative easing as they like to call it) at a very rapid rate since the start of the financial crisis in late 2008. The idea is to print and pump money into the financial system and thus ensure that there is a lot of money going around, leading to low interest rates.