Nifty breaches 14,500, Sensex turns green

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benchmarks slipped on the opening bell on Tuesday but soon recouped all losses. S&P BSE Nifty Sensex was near 49,500, while the 50-stock NSE Nifty was above 14,500. Bharti Airtel, Reliance Industries,  and Axis Bank were the top gainers on Sensex while HUL, Kotak Mahindra Bank, and Asian Paints were the top drags. Asian peers were trading mixed on Tuesday morning with Shanghai Composite and Hang Seng up with marginal gains while Nikkei 225, TOPIX, and KOSPI were in the red.

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The central bank on Monday said that the gross non-performing asset (GNPA) ratio of banks could double to reach 13.5% by September this year in a base scenario while on the higher side it is expected to reach 14.8%. The GNPA ratio is used to assess loan losses in the banking sector. The RBI in the report said that if a severe stress situation occurs the bad loan ratio of the banking system could be the highest since March 1997, when it stood at 15.7%. RBI Governor Shaktikanta Das, in the report,

said that India’s banking system faced the pandemic with relatively sound capital and liquidity buffers built assiduously in the aftermath of the global financial crisis and buttressed by regulatory and prudential measures.

Gold prices down ₹8,000 from record highs