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This decision comes as SBI had categorised the loan as a non-performing asset (NPA) in 2020 when a central bank circular prohibited banks from classifying accounts as NPAs due to the ongoing pandemic.

Industrialist Gautam Adani, despite a 57% erosion in wealth, was ranked second in the list with a wealth of ₹4,74,800 crore. Last year, he was ahead of Ambani by ₹3 lakh crore.

Market observers will be monitoring the actions of pre-IPO investors and promoters in firms such as Mankind Pharma, Kaynes Technologies, Gland Pharma, Utkarsh Small Finance Bank and Senco Gold, among others, to ascertain whether they opt to divest or maintain their current holdings.

The pan-European STOXX 600 jumped 2% higher, its biggest one-day percentage gain in nearly a year. The benchmark index fell 0.3% on Monday as military clashes between Israel and the Palestinian Islamist group Hamas sent oil prices surging and investors seeking the safety of bonds and gold

JPMorgan Chase, which kicks off earnings for big US lenders on Friday, will set the tone for large banks. It is predicted to post a roughly 25% jump in earnings per share (EPS) versus a year earlier, LSEG estimates showed

The Islamist militant Hamas movement threatened to execute an Israeli captive every time Israel bombed a Palestinian home after Israel called up an unprecedented 300,000 reservists and imposed a blockade on Palestinian enclave Gaza.

A trend reversal was witnessed in Nifty on Tuesday which ended about 177 points higher to form a bullish inverted Head and Shoulder pattern on the daily chart

Hamas launched the largest military assault on Israel in decades on Saturday, while Israel pounded the Gaza Strip on Tuesday with the fiercest air strikes in the 75-year history of its conflict with the Palestinians.

Spot gold rose 1.6% on Monday, its biggest one-day jump in five months, as military clashes between Israel and Palestinian Islamist group Hamas boosted demand for safe-haven investments.

Benchmark 10-year yields were on track for their largest daily drop since July, while those on the two-year were on pace for the biggest daily decline since late August.