DNA Money Edit: Stocks and crude up, rupee slips

The stock market is calm, unsure of an impending storm in the offing, if any. After benchmark stock indices shed nearly 4.7% in the past five consecutive sessions, Tuesday's gains have provided some relief to the harried investor. Concerns of a cash crunch in the non-banking financial company (NBFC) segment took a backseat after the government let out the right signals. The expectations that a lifeline to the beleaguered IL&FS and support to NBFCs and mutual funds are in the offing have helped the stock market indices swing back to the positive territory.

After meeting the state-run lenders in an annual review meet, Arun Jaitley looked delighted about the progress made by them in the last few years. He said the quantum of bad loans in public sector banks (PSBs) is on the decline on the back of an uptick in recoveries. The banks have asked him to review the Prompt Corrective Action (PCA) guidelines as it is affecting the credit growth. This is something that the government will have to take up with the central bank soon.

Meanwhile, the rupee's fall against the US dollar, a decline of 33 paise, has taken it to a shade above its all-time low. Along with it, a surge in crude oil prices to $81 a barrel, past its 2014 highs, may spread fresh concerns in the market.