In August, HDFC Bank experienced short covering and a 96% rollover, while SBI saw a significant short build-up and a 95% rollover. The Bank Nifty rose 0.5% to 50,889, but the PSU Bank index fell 2.6%. Nifty 50 climbed 3.1% with a 77% rollover.
Sebi relaxes re-KYC process for NRIs; removes physical presence clause
Markets regulator Sebi on Wednesday eased the re-KYC process for Non-Resident Indians (NRIs) by removing the requirement for them to be physically present in India