Sensex sheds 120 points


Shares fell on Friday on concerns over differences in the UPA coalition with the BSE Sensex dropping by 120 points, snapping a three-day upsurge.

Banking, capital goods, realty and power stocks dropped the most on reports that the Reserve Bank of India was planning to tighten norms for loan restructuring of corporates. Under the impact of slowdown, several companies are knocking the doors of banks seeking recast of their debt burden.

The BSE benchmark index fell by 120.41 points to 17158.44. Similarly, the 50-share National Stock Exchange index Nifty fell by 37.60 points to 5205.10.

Brokers said investors became cautious following differences between the Congress and Agriculture Minister Sharad Pawar-led NCP which has raised questions over functioning of the government and the UPA coalition.

Traders said the mood was further hit after the Reserve Bank Working Group gave recommendations about prudential guidelines on restructuring of advances by banks and financial institutions.

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Printable version | Dec 12, 2019 7:58:32 PM |

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