Indian bourses were up in early trading on Thursday anticipating further relief measures by the apex bank, Reserve Bank of India (RBI), expected to shortly announce key policy rates.
The Bombay Stock Exchange’s 30-share sensitive index, Sensex was up 250 points in opening trading, with banking stocks trading in the green anticipating an announcement of further relief measures due to the COVID-19 pandemic.
Similarly, the broader 50 share index of the National Stock Exchange (NSE), Nifty, was up 80 points to trade at 11,181.
The banks are expecting measures like the extension of a loan moratorium and restructuring of loans so that they do not become bad as people are facing problems in repaying their debt due to the pandemic. The loan moratorium, announced as a relief measure in the wake of COVID-19, will remain in force until 31 August.