Banking stocks get relief as strike deferred; PB Fintech hit by IRDAI move
Bank stocks got relief after the September 28–30 nationwide bank strike was deferred on Sunday night; the threat of a three-day shutdown hitting the September 30 half-yearly closing is now gone.
Elsewhere, PB Fintech fell 4 per cent and TurtleMint extended its losses to 20 per cent after IRDAI proposed changes to insurance-distribution commissions; SEBI's approval for foreign investors in non-agri commodities weighed on MCX, down 3 per cent.
The fallout underlines how the week's regulatory moves are reshuffling sector fortunes even as the benchmarks try to stabilise.
Originally reported by The Hindu BusinessLine. Article compiled by the Deccan Age desk.
