Money on the markets

A maturing market amid the mayhem

Firm trading session for banking stocks

April 29, 2010


It was a good day for banking counters with the Bankex gaining 1.6 percent and ending as the second best sectoral performer.

Financial counters rose on hopes that the economy, expected to expand 8.5 percent in the fiscal year beginning April 1, will boost demand for loans.

Shares of Yes Bank, which ended as the top gainer in the Bankex, jumped 5.6 percent to 293.15 rupees. ICICI Bank, India’s top private bank, gained 2.8 percent. Shares in SBI gained 1.7 percent to close at 2274 rupees.

On the losing side, Indian Overseas Bank dropped over 3 percent and ended as the top loser in the index.

The Reserve Bank is expected to raise rates further, according to a recent poll. Would you invest in this sector now?

Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see