Money on the markets

A maturing market amid the mayhem

Weak day for banking stocks

August 6, 2010

The BSE Banking index ended down 0.6 percent on Friday as the top sectoral loser, with all but one stock in the index ending the day in red.

Top losers included Federal Bank, which slipped 2.3 percent and IDBI, which ended down 1.4 percent. Shares in SBI, India’s top lender, ended down 1 percent.

However, those who have invested in the banking space of late would be happy, as the sectoral index has gained 9.5 percent since July, with stocks such as ICICI gaining 10.4 percent.

Would you take advantage of any fall in this space and buy some banking stocks?

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