New Delhi [India], September 21 (ANI) Gross non-performing assets (GNPAs) of banks are likely to decline by 90 basis points (bps) to 5 per cent this year and further improve to a decadal low of 4 per cent by March 31 next year, pushed by post-pandemic economic recovery and higher credit growth, said rating agency Crisil on Wednesday.

Mumbai Sep 17 PTI Equity benchmarks surged to fresh lifetime peaks on Friday but finished with modest losses snapping their three-session winning streak as investors rotated out of RIL metal and IT stocks at higher levels After gyrating 866 points during the day the 30-share BSE Sensex settled 12527 points or 021 per cent lower at 5901589 It had surged to a lifetime high of 5973732 in the morning session Similarly the broader NSE Nifty slipped 4435 points or 025 per cent to close at 1758515 after touching an intra-day record of 1779295 Tata Steel was the top laggard among the Sensex components tumbling 357 per cent followed by SBI TCS HUL Reliance Industries Sun Pharma and ICICI Bank In contrast Kotak Bank HDFC Bank Bharti Airtel Maruti Nestle India and Bajaj Finserv were among the prominent winners climbing as much as 526 per cent During the week the Sensex surged 710 points or 121 per cent while the Nifty advanced 21590 points or 124 per cent While the pace of vaccinations and encouraging export data helped bulls get closer to the 60K mark amidst the FTSE and MSCI rebalancing of flows profit-taking took away all the gains ahead of the outcome of GST Council meet said S Ranganathan Head of Research at LKP Securities Vinod Nair Head of Research at Geojit Financial Services said despite a strong opening domestic indices gave up early gains to trade flat driven by profit booking and mixed global sentiments PSU Banks were heavily wounded by profit booking although the government approved a guarantee of Rs30600 crores to the National Asset Reconstruction Company Ltd with an aim to clean stressed assets from the banking sector Global markets traded cautiously bracing for the Fed Reserve and Bank of England policy meetings next week he added Sectorally BSE metal realty basic materials energy power and utilities indices fell up to 249 per cent while bankex telecom finance and auto finished higher Broader BSE midcap and smallcap indices dived up to 114 per cent World stocks remained in the positive zone despite concerns over the fate of Chinese real estate major Evergrande and its impact on the countrys financial system Elsewhere in Asia bourses in Shanghai Tokyo Seoul and Hong Kong ended with gains Equities in Europe were also trading on a positive note in the afternoon session Meanwhile international oil benchmark Brent crude slipped 054 per cent to USD 7526 per barrel The rupee closed 4 paise higher at 7348 against the US dollar on Friday tracking weakness of the American currency in the overseas market Foreign institutional investors were net buyers in the capital market on Thursday as they purchased shares worth Rs 162188 crore as per exchange data PTI ANS ABM ABM