Sign in Subscribe
Banking industry

Bank Stocks Trade on Negative Note in India

Strategic Insights

— 1 min read

Trading on Monday, bank stocks in India were plagued by negative sentiment. The Nifty Bank index declined by 0.82%, with ICICI Bank and Axis Bank among the top losers. On the other hand, IDFC Bank and IndusInd Bank led the gains in the sector. The benchmark Nifty50 index and BSE Sensex, however, remained relatively stable, with the former up 20.10 points and the latter up 35.7 points. The trading activity in the day saw Vodafone Idea and YES Bank among the most traded shares.

Key Takeaways:

  • The Nifty Bank index was trading 0.82% down at 28,995.05 around 12:08PM, with ICICI Bank (down 2.06%) and Axis Bank (down 1.24%) leading the decline.
  • IDFC Bank (up 6.55%) and IndusInd Bank (up 4.11%) were among the top gainers in the sector, with RBL Bank (up 1.58%) and Bandhan Bank (up 0.94%) following closely behind.
  • The benchmark NSE Nifty50 index was up 20.10 points at 12,879.15, while the BSE Sensex was up 35.7 points at 43,917.95.
  • Among the 50 stocks in the Nifty index, 30 were trading in the green, while 20 were in the red.
  • Shares of Vodafone Idea, YES Bank, IDFC First Bank Ltd., BHEL, and SAIL were among the most traded shares on the NSE.
  • Gland Pharma Ltd., TI Financial Holdings, Wockhardt, Tanla Solutions, and Affle (India) Ltd. hit their fresh 52-week high in today's trade.
  • Shubhlaki Jewel Art Ltd., Jiya Eco Products Ltd., Jump Networks Ltd., CMM Infraprojects Ltd., Sumit Woods Ltd., Lakshmi Vilas Bank Ltd., Deep Energy Resources Ltd., Shrenik Ltd., and Uniply Industries Ltd. hit fresh 52-week low in trade.

Statistics:

  • The Nifty Bank index declined by 0.82% at 28,995.05 around 12:08PM.
  • ICICI Bank shares declined by 2.06% and Axis Bank shares declined by 1.24%.
  • IDFC Bank shares increased by 6.55% and IndusInd Bank shares increased by 4.11%.
  • The Nifty50 index increased by 20.10 points at 12,879.15.
  • The BSE Sensex increased by 35.7 points at 43,917.95.
  • 30 out of 50 stocks in the Nifty index were trading in the green, while 20 were in the red.

Sources:

  • Times of India (https://timesofindia.indiatimes.com)

Read more