Sensex, Nifty Decline; Banks Fall On RBI’s Rising Bad Loans Warning

The S&P BSE Sensex and NSE Nifty 50 indexes opened lower in trade on Tuesday on the back of weakness in banking and financial services shares after the Reserve Bank of India warned that the banks may see bad loans double despite signs of an improvement in the economic impact of the COVID-19 pandemic. Meanwhile, weakness in other Asian markets also added to somber investor sentiment on Dalal Street. The Sensex fell as much as 187 points to hit an intraday low of 49,082.04 and Nifty declined as much as 52 points to hit low of 14,484.75.

As of 9:23 am, the Sensex was down 105 points at 49,164.22 and Nifty declined 24 points to 14,460.


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