Equities edge lower as central bank report weighs on banks

Reuters Bengaluru | Updated on January 12, 2021

Indian shares inched lower on Tuesday, dragged down by banking stocks after the central bank said domestic lenders might see bad loans double, while investors awaited retail inflation data due later in the day.

The blue-chip NSE Nifty 50 index fell 0.2 per cent to 14,462 and the benchmark S&P BSE Sensex was down 0.17 per cent to 49,184.21 by 0346 GMT.

The gross non-performing assets of Indian banks may increase from 7.5 per cent in September 2020 to 14.8 per cent under a severe stress scenario, a report from the Financial Stability and Development Council said on Monday.

The Nifty bank index was down 0.74 per cent, while the public sector bank index fell 0.94 per cent.

Shares of Gail (India) Ltd rose 4.4 per cent after the company said it would consider a proposal to buy back shares.

Published on January 12, 2021

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