On Thursday, the fourth trading day of the week, the stock market once again opened with a fall. The 30-share Sensex of the Bombay Stock Exchange opened with a loss of 350 points, while the Nifty of the National Stock Exchange started trading below 16400. At present, the Sensex is down 187 points at the level of 54,706, while the Nifty is trading at 16,304, slipping 53 points.
Earlier in the last trading session on Wednesday, both the indices closed with a fall after the RBI’s decision to increase the repo rate. The BSE Sensex slipped 215 points to close at 54,892, while the NSE Nifty slipped 60 points to close at 16,356. Earlier, the Sensex opened with a jump of more than 200 points. Talking about the last trading session, the 30-share Sensex of the Bombay Stock Exchange lost 568 points to close at 55,107, while the Nifty of the National Stock Exchange slipped 153 points to close at 16,416.
According to media reports India’s largest private sector lender HDFC Bank is said to have asked its parent Housing Development Finance Corporation (HDFC) to cut exposure to a certain category of loans that are not permitted for banks under Reserve Bank of India (RBI) regulations.These are mostly short-term loans that include certain corporate loans and loans to developers. It is estimated that the value of this chunk of loans will be around Rs 20,000-25,000 crore on HDFC’s book at present, part of which will get extinguished over the next few quarters.Even then, it is estimated that HDFC will have less than approximately Rs 10,000 crore such loans on its books prior to the merger.
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