Money on the markets

A maturing market amid the mayhem

Bank index falls on probe report

Photo

The banking index ended 2.9 percent lower on reports pointing to a probe into loans issued by some financial institutions, adding to investor nervousness.

After market hours, the CBI arrested eight top officials from banks and financial firms on charges of taking bribes to grant corporate loans.

Shares in LIC Housing Finance closed 18.32 percent lower, while Central Bank of India ended 8 percent lower.

Today’s arrests dealt another blow to Indian markets which are already under pressure from a multi-billion dollar telecoms scam.

Bank stocks post healthy gains

Photo

INIt was a good trading session for banking counters, with the BSE banking index gaining more than 2 percent and ending as the top sectoral gainer, as fund managers bet the sector would benefit from a booming domestic economy.

Shares in Bank of India gained 5.4 percent to end as the top Bankex gainer, followed by IDBI which gained 4.3 percent.

HDFC Bank shares at all-time high

Photo

HDFC Bank, India’s second-largest private bank, rose as much as 2.4
percent to an all-time high of 2,240 rupees during trade on Thursday,
before closing 1.95 percent higher.

It was a good day for financial stocks overall, which rose on the back of rising FII inflows who have been lured by 8.5 percent economic growth forecast this year.

Banking stocks shine in weak market

Photo

The BSE Banking Index outperformed other indices on Tuesday, gaining nearly 1 pct in a flat Mumbai market, with stocks like Bank of Baroda and IDBI posting good gains.

Optimism over loan demand in a growing economy is helping banking stocks, but rising interest rates is a concern as this could push up costs for manufacturers and tighten their margins.

Weak day for banking stocks

Photo

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.

Banking index gains

Photo

The BSE Banking index rose nearly 1 percent on Thursday as banks shrugged off rising trend in rates and climbed on hopes robust economic growth will boost demand for loans.

Federal Bank shares gained 2.6 percent and ended as the top gainer in the index, followed by Bank of Baroda which gained 2.5 percent.

Banking counters under pressure

Photo

Various banking stocks were under pressure on Monday on concerns the Reserve Bank of India (RBI) would further hike interest rates.

The Bankex closed down 0.84 percent with 12 of 17 components in red.

Allahabad Bank and Bank of Baroda were the worst performers in the index, losing over 3 percent. Bigger players like ICICI Bank dropped 1.2 percent while SBI slipped 0.7 percent in trade.

Mixed day for banks, HDFC Bank down 3 pct

Photo
Mixed day for banks, HDFC Bank down 3 pct The BSE banking index fell 0.5 percent on Tuesday after gaining 3.7 percent over the last four sessions. Shares in HDFC Bank slipped 3 percent in trade and ended as the top Sensex loser. The benchmark Sensex too ended a four-session rally, closing 121 points lower at 17590. The other prominent losers were Axis Bank, which slipped 2.2 percent, and SBI which ended 0.6 percent lower. Some smaller peers however had a good day. Bank of India vaulted over 5 percent to the top of the bankex gainers list, while Karnataka Bank gained 2.3 percent. Seeing the current interest rate environment and with the Reserve Bank widely expected to increase rates in April, will you invest in this sector? http://in.reuters.com/article/economicNews/idINIndia-46771020100309

asdasdasdasdThe BSE banking index fell 0.55 percent on Tuesday after gaining 3.7 percent over the last four sessions.

Shares in HDFC Bank slipped 3 percent in trade and ended as the top Sensex loser.

Mixed day for banking stocks

Photo

It was a mixed day of trade for banking stocks on the bourses on Tuesday as the sectoral index closed marginally higher, but stocks like HDFC Bank gained over 2 percent and PNB jumped 1.9 percent.

Of the 17 stocks in the index, 11 closed in green, led by HDFC Bank. Kotak Mahindra Bank was the worst index performer, as it ended with losses of 2.1 percent.

Banking counters soar

Photo

Banking stocks kicked off the week on a positive note, with good results from some banks sending the BSE banking index up 2.4 percent.

The Bankex was also the top sectoral gainer on the BSE.

Shares in HDFC Bank topped the list of Sensex gainers with a jump of 4.5 percent. Allahabad Bank added 4.8 percent to emerge as the top Bankex gainer.

  •