A maturing market amid the mayhem
Bank index falls on probe report
The banking index ended 2.9 percent lower on reports pointing to a probe into loans issued by some financial institutions, adding to investor nervousness.
After market hours, the CBI arrested eight top officials from banks and financial firms on charges of taking bribes to grant corporate loans.
Shares in LIC Housing Finance closed 18.32 percent lower, while Central Bank of India ended 8 percent lower.
Today’s arrests dealt another blow to Indian markets which are already under pressure from a multi-billion dollar telecoms scam.
Do you think bank stocks are going to fall tomorrow?