Mumbai: The sell-off in the Indian stock market is once again dominating. Today, in the early trade on Friday, the Bombay Stock Exchange (BSE) major index Sensex was trading over 38, 200 points, falling more than 700 points. At the same time, if we talk about the NSE's main index Nifty, then a decline of 180 points has been recorded and it remained at the level of 11,350 points. In the opening minutes, all the shares of the BSE index were found to be trading on the red mark.
Banking stocks in particular have recorded the biggest decline. All other stocks, including Axis Bank, SBI, ICICI Bank, Kotak Bank, have registered a steep decline. This decline has come at a time when Finance Minister Nirmala Sitharaman has asked banks to implement loan restructuring scheme fast. In a meeting with bank chiefs on Thursday last, he has emphasized to present an immediate policy, identify and reach out to the eligible borrowers, regarding the elimination of pressures related to the Corona epidemic.
The Finance Minister also emphasized that the Samadhan Yojana should be implemented by 15 September 2020 and a comprehensive awareness campaign should be conducted in relation to it. The Indian stock market closed with weakness on Thursday after two consecutive days of consolidation. The Sensex lost 95 points from the previous session to close below the psychological level of 39,000 and the Nifty also closed at 11,527 with a weakness of about eight points.
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