Bank Stocks Trade on Negative Note in Indian Market
The Indian stock market was trading on a mixed note, with some bank stocks experiencing significant losses. Despite this, shares of Axis Bank, ICICI Bank, State Bank of India, and Punjab National Bank were among the top gainers. This trend was observed in the afternoon trade session, with the Nifty Bank index trading 0.19% down. The benchmark NSE Nifty50 index and BSE Sensex were also negatively affected, with the Nifty50 down 19.80 points and the BSE Sensex down 52.78 points.
Key Takeaways:
- Axis Bank shares were up 0.76% during the trading session, indicating a positive trend for the bank.
- ICICI Bank shares were also up 0.75%, making it one of the top gainers in the market.
- The Nifty Bank index was trading 0.19% down, indicating that the overall banking sector was experiencing losses.
- Federal Bank, Bandhan Bank, RBL Bank, Bank of Baroda, and HDFC Bank were among the top losers, with shares down 1.95%, 1.89%, 1.83%, 1.31%, and 0.83%, respectively.
- Shares of Vodafone Idea, YES Bank, Tata Motors, Tata Motors (DVR), and Bharti Infratel were among the most traded shares on the NSE, indicating their potential for significant movement in the market.
- WABCO India, Granules India, Supreme Inds., AstraZeneca, and Tube Investments of India Ltd. hit their fresh 52-week high in trade, while Blue Chip India Ltd. hit its fresh 52-week low.
Statistics:
- Nifty Bank index was trading 0.19% down at 22,967.8 at 12:03PM (IST)
- Benchmark NSE Nifty50 index was down 19.80 points at 11,314.05
- BSE Sensex was down 52.78 points at 38,304.4
- 19 out of 50 stocks in the Nifty index were trading in the green, while 31 were in the red
- 5 out of the top 10 most traded shares were from the banking sector
- 4 out of 5 shares that hit their fresh 52-week high were from the industrial sector
Sources:
- Times of India, financial section, 12:03PM (IST)
- NSE India, trade data
- BSE India, trade data
- Stock watch, NSE, BSE, and market analysts reports