India VIX was down in the red. (Image: REUTERS)
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Equity benchmark indices began trading on Friday at fresh all-time highs. Sensex jumped on the opening bell to reach a high of 52,566 while Nifty breached 15,800 levels to record a high of 15,816. Power Grid was the top index gainers on opening, followed by HDFC Bank, IndusInd Bank, Reliance Industries, HDFC. Tech Mahindra, Bajaj Finserv, Titan were the only laggards on Sensex. Broader markets were mirroring the up-trend. India VIX, fell 3.6% during the initial minutes of trade. Bank Nifty was up 0.48%.
India’s largest lender, State Bank of India could transfer bad loans worth Rs 20,000 crore to the Asset Reconstruction Company. The said amount will be part of the Rs 89,000 crore from 22 accounts identified by banks to be transferred to the proposed NARC. The non-performing assets (NPAs) identified by SBI include Essar Power Gujarat, Coastal Energy Reliance Naval. Over time, lenders are expected to move loans worth nearly Rs 2 lakh crore to the bad bank. Earlier this year, in her Budget speech, finance minister Nirmala Sitharaman had announced setting up of an asset reconstruction company an asset management company for the resolution of stressed assets.