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Business News/ Market / Stock-market-news/  Sensex edges lower, but post second straight weekly gain
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Sensex edges lower, but post second straight weekly gain

The Sensex fell 0.3% to 27,811.84 points on Friday, but rose 1.8% for the week, while the Nifty lost 0.20% to 8,381.10 points, but rose 1.9% for the week

Among the private lenders, ICICI Bank lost 1.35%, while Axis Bank fell 0.8%. Photo: BloombergPremium
Among the private lenders, ICICI Bank lost 1.35%, while Axis Bank fell 0.8%. Photo: Bloomberg

Mumbai: India’s stock markets edged lower on Friday as private lenders retreated after the Reserve Bank of India’s (RBI’s) stress tests showed a significant jump in bad loans for the sector, but indexes still posted a second consecutive week of gains.

RBI said late on Thursday the ability of India’s debt-burdened firms to repay their debts has worsened as leverage has increased, straining a banking sector burdened by bad loans.

Sentiment was also hit after Greece failed again to reach an agreement with its creditors and stumbled towards a default, while China shares plunged more than 7% as retail investors sold heavily.

But local shares continued their rebound after hitting their lowest levels this year earlier this month.

The 30-share BSE Sensex fell 0.3% to 27,811.84 points on Friday, but rose 1.8% for the week.

The 50-share Nifty lost 0.20% to 8,381.10 points, but rose 1.9% for the week.

Among the private lenders, ICICI Bank Ltd lost 1.35%, while Axis Bank Ltd fell 0.8%. Reuters

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Published: 26 Jun 2015, 04:47 PM IST
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