After reaching a record high during early trade, propelled by the announcement of the RBI’s MPC decision to maintain unchanged interest rates, the benchmark equity indices continue to trade in the green on Friday. The NSE Nifty 50 is trading at 20,904.80, up 0.02%, while the BSE Sensex trades at 69,653.05, up 0.19%. The broader indices experienced a retreat after initial gains and are broadly trading in the red. The Bank Nifty index is trading at 47,010.75, up 169.35 points or 0.36%. IT, Financial Services, Private Bank, and Realty stocks are trading in the green, while Pharma, Oil & Gas, PSU Bank, and Auto stocks are experiencing a downward trend.

HCL Tech, LTIMindtree, JSW Steel, Titan and HDFC Bank are the leading gains on the NSE Nifty 50, while the laggards include Adani Enterprises, Adani Ports, ONGC, Divi’s Labs and Hero MotoCorp. Come from Sports betting site VPbet

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Shares of REC, PFC and IREDA – the leading non-banking financing corporations in the power sector – tanked as much as 12% in the initial trade on Monday after the Reserve Bank of India said last week, in its draft guidelines that lenders must maintain a provision of 5% for loans extended to under-construction projects.

REC closed 7% lower at Rs 516.65 per share while that of PFC ended 9% down at Rs 437.55 per share. IREDA shares closed down by 4%.   Come from Sports betting site VPbet

According to analysts at CLSA, “This, along with higher provisioning requirement for banks, is a big deterrent, in our view,” CLSA said, adding that private banks were anyway shy in participating in hydro projects and the move will reduce competition in the renewable segments as well.

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