India Bank Shares Jump as RBI Details Foreign Currency Deposit Rules, Lifting Nifty After 2-Day Slide
Updated
Updated · Bloomberg · Jun 10
India Bank Shares Jump as RBI Details Foreign Currency Deposit Rules, Lifting Nifty After 2-Day Slide
3 articles · Updated · Bloomberg · Jun 10
Summary
Indian bank shares led Tuesday’s rebound after the RBI laid out rules for foreign-currency deposits, helping the Nifty snap a two-day losing streak.
The policy detail gave lenders the clearest catalyst at the open, putting banks at the forefront of the market’s recovery after recent weakness.
Oil edged higher after briefly falling below $90 a barrel on prospects of a US-Iran deal, adding to mixed global cues for Indian equities.
U.S. investors were still rotating out of richly valued tech stocks into more economy-linked sectors, leaving the broader external backdrop uneven even as Indian banks advanced.