Money on the markets

A maturing market amid the mayhem

Weak day for banking counters

August 24, 2010

Commuters walk past the Bombay Stock Exchange (BSE) building in Mumbai May 21, 2010. REUTERS/Rupak De Chowdhuri/FilesThe BSE Banking index ended down 0.5 percent on Tuesday, with stocks such as Union Bank, Canara Bank and Oriental Bank of Commerce slipping more than 3 percent.

Bigger players like ICICI slipped 0.9 percent but SBI bucked the trend and gained 0.8 percent in the session.

However, the banking index has done well of late, gaining 16.5 percent since July. Shares in SBI have surged a whopping 23.6 percent during this period.

Would you invest in this sector right now?

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