Fino Payments Bank shares plunge 11% after nod for small finance bank
Fino Payments Bank shares dropped significantly on Monday despite receiving an in-principle license to become a small finance bank. The Reserve Bank of India granted the license, but the holding company must reduce stakes held by key investors like Bharat Petroleum Corp and Blackstone GPV Capital Partners within 18 months.
Market breadth cracks deepen as ADR sinks to 10-month low
Despite calm headline indices, underlying market weakness is evident as the Advance-Decline Ratio hit a 10-month low in November, further declining in December. This indicates a shift towards caution, with investors favoring large-cap stocks over mid and small-caps, signaling growing strain beneath the surface.
Indices see steepest fall since Sept 25 despite rate cut boost
Indian stock markets experienced their sharpest fall since late September, with the Nifty dropping below 26,000. Investors adopted a cautious stance ahead of the US Federal Reserve’s policy decision, despite positive domestic growth figures and a recent rate cut. Global rate concerns and foreign fund outflows contributed to the downturn.