The equity benchmark Sensex dived about 346 points owing to an intense fag-end selling mainly in auto and energy stocks as fresh worries about weakening rupee and rising crude oil prices resurfaced.
India's key equity indices oscillated in a thin range during the holiday-shortened week (November 5-9), ending with slight gains, as investors keep an eye out on a string of assembly polls lined up this month and the next.
A Mumbai court has acquitted nine people, including Ashwin Mehta, brother of 1992 securities scam kingpin Harshad Mehta, in a case of duping the State Bank of India (SBI) to the tune of Rs 105 crore.
India’s top banker SBI, which was handling most of the payments to Iran for oil purchases, is now complying with the US sanctions against Tehran, its chairman said.
Eight of the 10 most valued Indian firms together added Rs 1.69 lakh crore in market capitalisation last week, led by Tata Consultancy Services (TCS) and SBI.
In a first for India, British banking major HSBC has executed a trade finance transaction involving an export by Reliance Industries to an American client using the blockchain, which massively reduced the time taken for processing the documents.
The country's largest lender SBI will raise Rs 4,116 crore by issuing Basel III compliant bonds to add up to its tier 2 capital, the bank said.
The BSE benchmark Sensex Friday soared over 413 points to 34,845.15 and the NSE Nifty raced past 10,500 on widespread gains amid fresh foreign fund inflows, fall in global crude prices and rising rupee.
Anil Ambani-led Reliance Capital has raised long-term financing of Rs 4,000 crore, investment banking sources said.
India's financial markets are facing a 'trust deficit' and disruptions due to defaults by a major non-banking finance company which could put a strain on weaker firms, S&P Global Ratings said.