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Market News- RIL slumps 3%, HDFC Bank up, Oil Market Fall

RIL slumps 3%, HDFC Bank up - Reliance Industries shares slumped nearly 3% to hit the day’s low at Rs 1,345.05. HDFC Bank shares are trading 0.5% up at Rs 2,301.75. 
Shares of Mukesh Ambani-led Reliance Industries will assume focus after the firm reported strong Q4 results, and is set to separate fibre and tower assets in a bid to cut Jio debt. HDFC Bank shares will also be on the investor’s radar. L&T shares will also assume focus.

Tata Coffee, SpiceJet, Dr Reddy's Lab, HDFC Bank, are among major gainers on the indices, while losers are Reliance Industries (RIL), Jet Airways, Reliance Capital, Reliance Infra, Reliance Power, Reliance Comm, SBI, DHFL and Canara Bank. On the sectoral front except IT, all other sectors are trading lower led by energy, infra, auto, bank, metal and pharma.

Rupee Opens: The Indian rupee opened lower by 39 paise at 69.75 per dollar on Monday versus 69.36 Thursday.

Oil Market Fall - As Oil Near 6-Month High Shares of the oil retailers declined as Brent crude rose as much as 3.25 per cent to 74.31 per barrel.

Jet crisis: From SBI to IOB, PSBs to be hit hardest if there's no buyer - Public sector banks (PSBs), which account for 70 per cent of the over Rs 7,000-crore loan given to Jet Airways, will take the biggest hit if no buyer is found for the ailing and now temporarily shut airline. According to sources, State Bank of India and Punjab National Bank together comprise around 53 per cent of the total loan exposure.
The other PSBs which have lent heavily to Jet include Canara Bank, Indian Overseas Bank and Bank of India. Amongst the private banks, YES Bank has the largest loan exposure, followed by ICICI Bank and IDBI Bank.

Source

Market | Sensex | RIL Shares | HDFC Bank | Oil Prices | Rupee Update | 
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