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Indian Benchmark Index Nifty yesterday opened at 9622 and closed at 9618 after making a low of 9580. The Index recovers by 38 points from its day low in the second half of trading session.

In a most recent development regarding decision of non-performing assets, the Reserve Bank of India (RBI) has recognized 12 bad accounts for instant resolution under the Insolvency and Bankruptcy Code (IBC). RBI did not disclose the names of bad accounts. The Internal Advisory Committee (IAC) noted that under the recommended criterion, 12 accounts totalling about 25% of the current gross NPAs of the banking system would qualify for immediate reference under IBC.

Bank Nifty opened at 23555 and closed at 23499 after making a low of 23399. PSU Bank stocks surged in the second half of the Yesterday’s trading session. Allahabad Bank was the top gainer in the Nifty PSU Bank Index, it closed higher by around 7.38% at Rs 72 per share.

Small cap Index last day made a high of 7401 and closed at 7398.The Index remained strong throught the trading session.

Nifty Future to open gap down by 19 points at 9619 against yesterdays close of 9638 as per SGX Nifty is currently trading at 9260.

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