Bajaj Finance was the top gainer in the Sensex pack, surging around 9 per cent, followed by IndusInd Bank, L&T, Bajaj Finserv, HDFC, SBI, ICICI Bank, HDFC Bank, ONGC and Axis Bank. On the other hand, Tech Mahindra, HCL Tech, Infosys, Nestle India, Sun Pharma and TCS closed in the red.
Credit-to-deposit (CD) ratio of major public sector and private sector banks during the October-December quarter of FY24 inched up as compared to the previous quarter though government-owned lenders reported a lower rate than their private peers. CD ratio is the ratio of the funds that banks lend as compared to the funds raised in the form of deposits. The CD ratio of top public sector banks (PSBs) - State Bank of India, Punjab National Bank, Bank of Baroda and Canara Bank - was lower than their private counterparts.
IndusInd Bank was the top gainer in the Sensex pack, zooming over 12 per cent, followed by Bajaj Finance, Axis Bank, ICICI Bank, Tech Mahindra, Bajaj Finserv and Kotak Bank. On the other hand, ITC, NTPC, Titan, Reliance Industries and ONGC were the laggards.
People are availing far more of certain kinds of unsecured loans than was the case before the pandemic. Bank lending for buying consumer durables and funding of credit cards and other personal loans have risen by Rs 6.9 trillion between August 2019 and August 2023, shows a Business Standard analysis of data from the Reserve Bank of India (RBI). These loans are typically unsecured, which means they are provided without collateral.
Market benchmark BSE Sensex declined over 247 points on Tuesday to close at 40,239 as heavy selling emerged mainly in power, oil & gas and IT stocks amid a strengthening rupee. Yes Bank was the biggest loser in the Sensex pack with 10.05 per cent fall, followed by PowerGrid, IndusInd Bank, NTPC, ITC, TCS, Axis Bank, Hero MotoCorp, M&M and HCL Tech, which lost up to 2.66 per cent. On the other hand, Bajaj Finance, HUL, HDFC Bank, ICICI Bank, and Bajaj Auto gained up to 1.06 per cent.
From the Sensex pack, Sun Pharma, Maruti, Tata Motors, ITC, Nestle, Larsen & Toubro, Infosys, Asian Paints, Titan, Tech Mahindra, Power Grid and Reliance Industries were the major gainers. Bajaj Finance, Axis Bank, HCL Technologies, State Bank of India, HDFC, HDFC Bank, ICICI Bank and Bajaj Finserv were among the laggard from the 30-share pack.
Among the Sensex constituents, Larsen and Toubro emerged as the top performer with a gain of 2.76 per cent after the company announced winning large contracts from domestic clients.
ICICI bank waives ATM charges.
Axis Bank was the top loser in the Sensex pack, tanking over 28 per cent, followed by Bajaj Finance, IndusInd Bank, ICICI Bank, Maruti and L&T. NSE Nifty nosedived 1,135.20 points or 12.98 per cent to settle at 7,610.25.
Soon after the lifting of the 13-day moratorium at 6 pm, some customers took to social media complaining that they were not able to access certain services, including internet and mobile banking.
The market capitalisation of BSE-listed firms touched an all-time high of Rs 296.48 lakh crore on Friday as the benchmark Sensex hit its new life time peak amid bullish investor sentiments.hit its new lifetime peak. Rallying for the third day running, the 30-share Sensex surged 499.42 points or 0.78 per cent to reach its all-time high of 64,414.84 in early deals. Thanks to the rally in equities, the market capitalisation (mcap) of BSE-listed companies jumped to Rs 2,95,72,338.05 crore.
Equity benchmarks Sensex and Nifty gave up early gains and ended lower by 1 per cent on Wednesday amid a largely weak trend in Asian markets and sell-off in index majors Reliance Industries, ICICI Bank and HDFC twins. The 30-share BSE benchmark Sensex tumbled 635.05 points or 1.03 per cent to settle at 61,067.24. During the day, it slumped 763.91 points or 1.23 per cent to 60,938.38. The broader NSE Nifty declined 186.20 points or 1.01 per cent to end at 18,199.10.
Disappointing quarterly earnings numbers and revenue forecast from IT services company Wipro also weighed on investor sentiments. The 30-share BSE Sensex fell 247.78 points or 0.38 per cent to settle at 65,629.24 points. During the day, it plunged 533.52 points or 0.80 per cent to 65,343.50 points.
Axis Bank was the top gainer in the Sensex pack, surging around 7 per cent, followed by Ultratech Cement, L&T, ICICI Bank, SBI, M&M and Bajaj Finance. On the other hand, Nestle India, Sun Pharma, Bharti Airtel and HUL ended in the red.
At a time when banks are engaged in a fierce battle to gain market share in the credit card segment, Citibank India has been losing its share, both in terms of outstanding cards and spends in the last few years. Still, average spends on Citi cards are higher than any other Indian bank. Last year, the global banking behemoth announced exit from its consumer banking franchises in 13 markets across Europe, Middle East and Asia, including India, citing lack of scale.
The broader Nifty closed at 11,993.05, falling by 233.60 points, or 1.91 per cent. On the Sensex chart, Bajaj Finance was the top loser, dropping 4.63 per cent, followed by SBI, IndusInd Bank, Maruti, HDFC, Hero MotoCorp, Axis Bank, ICICI Bank and RIL
Bajaj Finance was the biggest gainer in the Sensex pack, spurting 3.64 per cent. Tata Motors, Infosys, Vedanta, ONGC, PowerGrid, NPTC, Axis Bank, ICICI Bank, Kotak Bank, SBI, HDFC Bank, Tata Steel, TCS and RIL too rose up to 3.48 per cent.
Nokia has tied up with Citibank, HDFC Bank, Axis Bank, Standard Chartered, HSBC, ICICI Bank and SBI Cards for the EMI scheme and the offer will be available to consumers with credit cards from any of these banks.
Equity benchmark indices Sensex and Nifty hit their fresh record levels on Thursday after lower inflation numbers raised hopes of an interest rate cut by the RBI. Besides, heavy buying in capital goods, consumer durable and industrial stocks also helped the indices, traders said. Retail inflation continued its downward slide to reach a one-year low of 4.75 per cent in May due to a marginal decline of prices in the food basket and remained within the Reserve Bank's comfort zone of below 6 per cent, according to government data released on Wednesday.
ICICI group's private equity business head Renuka Ramnath is believed to have put in her papers on Monday.
After a gruelling 24 hours, the PhonePe team has fully restored UPI on the payment platform. The app is up and running again with ICICI Bank as its new partner with all payment instruments enabled.
Standard Chartered's India strategy will focus on wealth management while credit card will remain core to its business though will avoid competition with the country's private banks, said a senior executive of the British lender. "Our focus on wealth management and affluent clients are central to our existence. "We are strong in these areas and we want to grow in these areas.
L&T was the top loser in the Sensex pack, shedding around 2 per cent, followed by Reliance Industries, Bajaj Finserv, IndusInd Bank, SBI, Maruti, Axis Bank and Bajaj Auto.
Among major Sensex movers, Reliance Industries soared by 3.29 per cent as energy prices rose due to the war in Ukraine. Tata Steel emerged as the lead gainer among Sensex scrips, jumping by 6.61 per cent. Power Grid, Titan, NTPC, ICICI Bank, L&T, Infosys and Sun Pharma were among the gainers.
PowerGrid was the top loser in the Sensex pack, shedding around 3 per cent, followed by Asian Paints, Axis Bank, Kotak Bank, Bajaj Auto, SBI and M&M.
Equity benchmark Sensex tanked over 1,000 points in the opening session on Friday tracking losses in index majors ICICI Bank, HDFC twins and Reliance Industries amid a negative trend in global markets.
HDFC Bank was the top gainer in the Sensex pack, rallying nearly 4 per cent, Infosys jumped over 3 per cent. Sun Pharma, NTPC, HCL Tech, Tech Mahindra, HDFC, RIL and TCS also closed with gains. On the other hand, Axis Bank was the top laggard, followed by ITC, ICICI Bank, IndusInd Bank and Maruti Suzuki.
Among the Sensex firms, IndusInd Bank jumped 5.08 per cent. The other winners were Tata Motors, Bajaj Finance, Bajaj Finserv, NTPC, HCL Technologies, Mahindra & Mahindra, Axis Bank, Maruti and Kotak Mahindra Bank. Value buying in index heavyweights Reliance, HDFC Bank and ICICI Bank added to the momentum. Sun Pharma, Larsen & Toubro and Nestle were the laggards.
Shares of Reliance Industries climbed around 3 per cent to hit a record closing high of Rs 2,060.65. SBI, ICICI Bank, Tech Mahindra, ITC and Kotak Bank were among the other winners. NSE Nifty advanced 82.85 points, or 0.74 per cent, to close at 11,215.45.
Equity benchmarks settled at record highs on Friday, rallying for the fourth day running, helped by intense buying in index majors Reliance Industries, Wipro and Maruti. In a largely range-bound trade, the 30-share BSE Sensex climbed 20.96 points or 0.03 per cent to settle at 62,293.64, its fresh record closing high. During the day, it jumped 175.05 points or 0.28 per cent to 62,447.73 -- its lifetime intra-day peak.
The biggest gainers in the Sensex pack were Sun Pharma, Bajaj Finance, Vedanta, Yes Bank, ICICI Bank, HDFC, Tata Motors, HCL Tech, IndusInd Bank and Axis Bank, rising up to 2.98 per cent.
Rating agency Fitch on upgraded outlook of 10 financial institutionals, including SBI, ICICI Bank and EXIM Bank of India to 'stable' from 'negative' earlier following revision in the country's outlook.
Sensex is trading firm; FMCG, real estate going strong.
In the Sensex pack, IndusInd Bank was the top gainer, soaring around 8 per cent, followed by Bajaj Finance, Axis Bank, PowerGrid, ONGC, ICICI Bank, Sun Pharma and M&M.
Bharti Airtel was the top loser in the Sensex pack, slipping around 1 per cent, followed by Tata Steel, HDFC Bank, Infosys, HDFC, Bajaj Auto and PowerGrid.
CLSA says any correction in the market due to poll related uncertainty could be a buying opportunity.
HDFC Bank becomes first Indian lender to develop mobile banking app for Apple's latest offering in India.
In the Sensex pack, Bajaj Finance and Bajaj Auto ended up to 6.09 per cent higher after posting strong quarterly numbers.
Telecom Regulatory Authority of India Chairman Rahul Khullar said insurance companies have asked for 4-6 weeks to deal with unsolicited commercial call or SMS.
IndusInd Bank was the top gainer in the Sensex pack, rallying over 6 per cent, ahead of its earnings announcement. Axis Bank, Kotak Bank, ICICI Bank and Bajaj Finance too surged up to 5 per cent. On the other hand, NTPC, M&M, HDFC Bank, Bharti Airtel and ITC were the laggards.
