Benchmarks hit fresh record highs; Sensex surpasses 49,500 mark
India, Jan. 12 -- Extending their record braking rally for third consecutive day, Indian equity benchmarks ended the Tuesday's trade above their crucial 49,500 (Sensex) and 14,550 (Nifty) levels. Markets made a pessimistic start as traders remained concerned after the Reserve Bank of India (RBI) warned that the Indian banking system's bad loans may rise to a two-decade high on the back of COVID-19 induced stress. In its latest Financial Stability Report (FSR), the RBI said Public Sector Banks (PSBs) may see gross NPAs rise from 9.7 percent in September 2020 to 16.2 percent by September 2021. Sentiments also remain dampened as the finance ministry has rejected the demand for further extension of the last date for income tax return (ITR) fili...
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