Money on the markets

A maturing market amid the mayhem

Banking index slips marginally

October 5, 2010

MARKET-INDIA/RUPEEBanking index dropped marginally on Tuesday as traders booked profits after hawkish comments on inflation by a Reserve Bank deputy governor.

The Reserve Bank of India (RBI) is considering measures to deal with an influx of foreign fund flows, Subir Gokarn said, adding that inflation persists well above the Reserve Bank’s comfort zone.

Stocks like Canara Bank and Federal Bank bucked the trend and jumped more than 5 percent each.

HDFC Bank ended as the top loser, down 1.8 percent. Yes Bank slipped 1.3 percent.

Will you invest in these stocks at this stage?

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 http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
  •