Turning flat after a positive start on Thursday, Indian indices turned flat. Now all eyes will be on the core sector data today. Also, the Asian stocks were mixed this Thursday. This comes as the investors assessed the impact of the rising energy costs on inflation and the pandemic recovery.
HDFC Bank, Kotak Mahindra Bank remained the top Sensex drags. Moreover, Sensex opened at 59,549.57, up 136.3 points, while Nifty was at 17,718.90, up 7.60 points. PSU banks, realty remained the top gainers.
Some factors that affect bank shares include overall market sentiment, future expectations, fundamental valuation, and the demand for banking services.
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The latest Bank shares tally for the moment
|Axis Bank||781.00 INR|
|HDFC Bank||1590.45 INR|
|Yes Bank||12.60 INR|
|Indusind Bank||1,130.20 INR|
|Bank of Baroda||83.45 INR|
|Union Bank of India||37.15 INR|
|Canara Bank||176.90 INR|
The Indian rupee opened 11 paise lower at 74.26 per dollar today against the previous close of 74.15.
The Credit Guarantee Scheme for Micro Finance Institutions (MFIs), announced by Finance Minister Nirmala Sitharaman in June has been fully utilised by the banks.
Now the loans from banks are capped at the marginal cost of funds based lending rate (MCLR) plus 2 per cent.
And the maximum loan tenure is three years, and 80 per cent of assistance is to be used by MFIs for incremental lending.
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