Money on the markets

A maturing market amid the mayhem

Bankex falls ahead of RBI policy review

Banking shares fell on Wednesday ahead of the RBI’s policy review, with the sectoral index falling 1.6 percent.

Axis Bank shares fell 2.7 percent and ended as the top loser in the index, followed by SBI which dropped 2.3 percent.

Do you think it is the right time to buy banking stocks?

Tata Motors shares fall nearly 3 pct

Shares in Tata Motors ended down 2.84 percent on Tuesday and closed at 984 rupees.

UBS downgraded the stock to “sell” from “buy” and cut the price target to 920 rupees from 1,360 rupees on fears of constricted growth and margins.

Bankex falls 1.5 pct

The BSE Banking index ended the day down 1.5 percent with stocks like Yes Bank and ICICI falling more than 3 percent.

SBI shares however bucked the trend and ended marginally in green.

Worries about more rate hikes have been bothering this sector, and banking funds recorded a fall of more than 5 percent in May.

  •