On Thursday morning, domestic stock markets began the day with gains. The S&P BSE Sensex began trading above 48,800 but quickly lost some of its early gains, while the Nifty 50 remained below 14,700. On the opening day, the top index gainers were ONGC, Bajaj Finance, and Bajaj Auto. Bank stocks were in the red, dragging the index down with them. While the wider markets were up in the orange, the Bank Nifty was trading in the red. The VIX in India started to fall.
During the second wave of the coronavirus pandemic, the Reserve Bank of India has come out in support of small borrowers and the healthcare sector. Small borrowers who did not take advantage of the restructuring lifeline last year will be able to restructure their debts, according to RBI Governor Shaktikanta Das. Furthermore, the RBI announced that it will make Rs 50,000 crore in liquidity available to banks to allow them to expand Covid loans to healthcare entities.
Banks will use this scheme to provide new lending support to vaccine producers, clinics, and patients seeking care, among other things. Financial and pharmaceutical stocks were among the top gainers following the RBI Governor's announcements on Wednesday.