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.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.