Reliance Capital is one of India's largest financial services conglomerates in the country with nearly Rs 90,000 crore of assets, Rs 8,000 crore of net worth and over 18,000 employees.

In Japan, the Nikkei 225 slipped by 0.41 per cent as shares of index heavyweight and conglomerate Softbank Group plunged more than 2.5 per cent. Hang Seng index traded largely flat with the Shanghai composite shedding 0.18 per cent.

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Consumer-oriented sectors may potentially pass on part of the savings in the form of discounts or price reductions to revive demand, especially in the current context of subdued consumer demand.

BSE S&P Sensex closed 167 points or 0.43 per cent lower at 38,823 while the Nifty 50 slipped by 59 point to 11,512. At the National Stock Exchange, all sectoral indices were in the red.

Metal stocks like Tata Steel, Vedanta and Hindalco too suffered losses of over 2 per cent each. The other prominent losers were ONGC, GAIL, Nestle Indian and Bharti Infratel.

The BSE S&P Sensex closed 396 points higher at 38,990 while the Nifty 50 gained by 133 points to wind up at 11,573. At the National Stock Exchange, all sectoral indices except for IT were in the positive zone.

Reserve Bank on Thursday increased the withdrawal limit from Rs 1,000 to Rs 10,000. The RBI had capped withdrawals at Rs 1,000 per customer during the six-month period, and banned the bank from extending new loans.

MSCI's broadest index of Asia Pacific shares outside Japan was up by 0.13 per cent while Japan's Nikkei rose by 0.4 per cent. The Chinese blue-chip shares advanced by 0.2 per cent and the Hang Seng gained by 0.17 per cent.