sensex today: Sensex slips 470 points to close at 48,564 in highly volatile trade; Nifty ends below 14,300 – Times of India

NEW DELHI: Equity indices plunged for the second straight session on Monday with the benchmark BSE sensex falling over 450 points, amid reports that the Reserve Bank of India (RBI) may propose tighter rules for “shadow banks“.
The 30-share BSE index fell 470 points or 0.96 per cent to close at 48,564; while the broader NSE Nifty fell 152 points or 1.06 per cent to finish at 14,281.
ONGC, Sun Pharma, Power Grid, Bajaj Finance, IndusInd Bank and Dr Reddy were the top losers in the sensex pack falling up to 4.59 per cent.
While Reliance, Titan, HDFC Bank and ITC were the only gainers rising as much as 2.37 per cent.
On the NSE platform, sub-indices Nifty Metal, Pharma and PSU Bank fell as much as 4.08 per cent.
The RBI may set out proposals in a discussion paper this week, recommending that bigger shadow banks hold a share of deposits in cash, gold or government securities.

“If there are regulations in terms of statutory appropriations like cash reserve ratio and statutory liquidity ratio, then HDFC Ltd along with other NBFCs will get affected,” Macquarie analyst Suresh Ganapathy told news agency Reuters.
“Any such strict regulations if implemented at a time when economic growth is very weak could severely constrain ability of NBFCs to lend and further jeopardise growth,” he added.
Meanwhile, foreign portfolio investors (FPIs) were net buyers in the capital market as they purchased shares worth Rs 971.06 crore on Friday, as per exchange data.
(With agency inputs)

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