It also directed no compound or penal interest be charged during the six-month moratorium period, but added complete waiver of interest is not possible as it will have huge financial implications.
“Domestic market ended the day on a strong footing supported by a rally in banking stocks amid weak cues from global markets.
Sentiments in the banking stocks were lifted post Supreme Court’s order against granting interest waiver and extension of moratorium period,” said Vinod Nair, Head of Research at Geojit Financial Services. “Its decision to not charge compound interest added a minor concern in the banking space.”
Sector-wise, BSE bankex, industrials, energy, realty, and power indices rose up to 1.51 per cent, while metal, FMCG, oil and gas and telecom indices closed with losses.
Broader BSE mid-cap and small-cap indices climbed as much as 0.95 per cent.
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