Branch additions for most major banks in the current financial year do not correspond to the number of the past two years.
The broader NSE Nifty rose nearly 124 points to settle just below the psychological 11,000 level.
HDFC Bank, the country's second-largest private sector bank, has cut its base rate by 15 basis points (bps) to 9.70 per cent.
The 50-issue Nifty fell 29.60 points or 0.34 per cent to close at 8,642.55
Recent rates cuts by most banks may not have a significant impact on margins, say analysts.
The broader NSE Nifty dipped below the 10,200-mark to hit a low of 10,180.25 before ending at 10,195.15, down by 165 points, or 1.59 per cent.
The 30-share Sensex ended up 292 points at 29,571 and the 50-share Nifty closed up 75 points at 8,910.
The S&P BSE Sensex plunged 301 points to close at 25,490 and the Nifty50 fell 86 points to end at 7,815.
Central bank sees action as discriminatory, unfair
The NSE Nifty too recovered over 100 points, or 0.96 per cent, to end at 10,576.85.
The Sensex ends up 16 points to end at 20,514.
Coal India fell the most by 2.58 per cent among Sensex scrips, dragging the index into the negative zone.
BSE Sensex on Monday closed nearly 34 points higher at 26,350.17 with gains in realty, power, FMCG and oil & gas stocks amid sustained buying by domestic institutional investors.
Market breadth is positive with 942 advances and 196 declines.
After trading with gains for most of the day, selling pressure in software manufacturer Infosys, cigarette to hotel conglomerate ITC and private lender ICICI Bank pulled the benchmarks lower.
The broader NSE Nifty slipped below the 10,500-mark by falling 103 points, or 0.97 per cent, at 10,482.20. It touched a high of 10,645.50 and a low of 10,464.05 during the day.
The broader markets ended firm with mid-caps and small-caps gaining nearly 0.5 per cent on the BSE.
Of the 30-share Sensex pack, 15 today closed in the red
India's GDP for the three-month period ended September 30 grew 7.4%.
The 50-share NSE Nifty too closed down 168.30 points, or 1.58 per cent, at 10,498.25 -- a level last seen on January 3 when it closed at 10,443.20.
Both benchmark indices were driven by strong gains in IT, teck, oil and gas, pharma and banking shares amid earnings optimism.
Sensex sinks into red at close on growth concerns.
The preference for digital banking now cuts across all customer segments.
Bank shares were the top losers along with index heavyweight RIL
The main issue has been that of a higher Asset Management Ratio as has been prescribed by the Monetary Authority of Singapore for qualifying full banks from India.
Top losers in the Sensex pack include Bharti Airtel, Infosys, Asian Paints, RIL, Coal India, HDFC Bank, HDFC, TCS, ONGC and M&M, falling up to 3.09 per cent.
The 30-share Sensex ended higher by 46 points at 26,360 and the 50-share Nifty gained 16 points at 7,891.
The 50-share NSE Nifty shed some ground to settle at 8,699.40 points, up 40.30 points, or 0.47 per cent
Dalal Street investors became richer by more than Rs 16.36 lakh crore this year as the equity market scaled new highs despite persistent geopolitical uncertainties and inflation worries. Analysts attributed better macroeconomic fundamentals, the confidence of retail investors and foreign investors investing again in the domestic equities towards the latter half of 2022 as the key factors that led to the outperformance of the Indian market in comparison to many other stock markets worldwide. During the initial part of the year, markets were jolted by the Russia-Ukraine war.
Markets shrugged off RBI's neutral stance on key policy rates.
Forecasting that inflation is inching towards zero, ICICI Bank managing director and chief executive officer K V Kamath on Tuesday suggested to the Reserve Bank of India to further cut key policy rates by 100 basis points as part of a calibrated move to usher in a low interest rate regime.
'Investors should focus on largecap funds, flexicap funds, business cycle funds, or hybrid-category funds.'
HSBC maintained "overweight" rating on Indian equities, saying "fundamentals are strong".
The 30-share S&P BSE Sensex ended up 130 points at 25,400 and the Nifty50 rose 46 points to close at 7,759.
The Reserve Bank of India's (RBI's) decision to withdraw the incremental cash reserve ratio (I-CRR) is expected to benefit banks during the festival season. They are likely to increase deposit rates by up to 25 basis points (bps) in select maturity buckets. The rise in demand for funds to cover tax payments and meet quarter-end business targets could influence rate decisions by banks, according to bankers and money market executives.
Among key stocks, Tata Motors, Hero MotoCorp, L&T, Wipro, ICICI Bank, Dr Reddy's Labs and ICICI Bank, all up between 1%-3%
Axis Bank emerged as the biggest gainer in the Sensex pack, surging 6.62 per cent, followed by SBI at 5.88 per cent.
The markets are showing no signs of stability as the economic impact of the coronavirus outbreak is likely to be significant for many major economies.
Investors will maintain a cautious stance.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances