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The market remains sluggish as the Sensex is down 39.97 points at 26483.12. The Nifty is down 26.70 points at 8017.45. About 761 shares have advanced, 1268 shares declined, and 146 shares are unchanged.
Banks and Metal Index are outperforming. Banks are on buyers’ radar as RBI announces strategic debt restructuring which empowers banks to convert debt into equity if borrowers fail to meet viability milestones under restructured plan. JP Morgan says this isn’t a magic bullet for all stressed assets but will make resolution significantly easier.
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Posted in: Indian Market Tips
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