You should not remain dependent solely upon job portals.. Though job portals are a good means of convincing yourself that you are doing your bit to land a job, but they don't yield the kind of results that is shown on their homepages and thus, drive you towards disappointment..
Instead get in touch with and identify yourself to consultants or RPO's (Recruitment Process Outsourcing) like MAnpower group, kelly services, abc consultants, adecco, randstad etc and there are lots more of them..
Try and get contract jobs. Though, it will be for few months only, but you will have experience in that organisation which may get you a permanent stint over there after the expiry of the contract or later in future (though obviously depending upon your performance). And these consultants can introduce you to a good number of contract jobs. References always help, but they are not the sole methods of getting a job.
Even I am working on contract and getting paid more than what a fresher Chartered Accountant is getting on average ..And it was through these consultants only that I got the job.
That being said, you are living in the city that is epicentre of the financial activities. So, make the very best of the reach that you have got. Its only a matter of a few steps that will take you to the path towards glory..Good luck and all the very best for your endeavours