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ICICI Bank rises

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MARKETS-SOUTHASIA/STOCKS

Shares in ICICI Bank rose over 5 percent on Friday after the Reserve bank of India left its short-term interest rates unchanged and only hiked banks’ CRR by 75 bps.

The counter ended 5.3 percent higher at 830 rupees with volumes of over 2.5 million shares.

Peer banks such as Canara Bank rose 4.6 percent, Allahabad Bank ended 4.3 percent higher, and SBI closed 2.7 percent up.

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Banks lead Sensex rise

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MARKETS-SOUTHASIA/STOCKS

BSE Banking Index ended 1.16 percent higher on Tuesday powered by gains in India’s top private lender, ICICI Bank which contributed most of the rise.

Shares in ICICI Bank, (up 1.9 percent), SBI, (up 0.9 percent), Yes Bank, (up 4.3 percent), Kotak Mahindra Bank, (up 2.04 percent) and Axis Bank, (up 1.34 percent).

Banks slide

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KASHMIR-PROTESTS/

The BSE banking index ended 2.9 percent lower on Tuesday, making it the top sectoral loser of the day.

Concerns over higher-than-expected inflation for November triggered worries the Reserve Bank of India may start tightening liquidity soon.

Banking Index gains

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The BSE Sensex posts its first weekly gain in three weeks helped by India’s top lender SBI and Sensex heavyweight ICICI Bank.
MARKETS-SOUTHASIA/STOCKS
Shares in SBI ended 3 percent higher at 2204 rupees posting its biggest rise in three weeks, while ICICI Bank which holds over 7 percent weightage in the 30-share Sensitive index ended 0.48 percent to 848 rupees.

The BSE Banking Index ended 1.7 percent higher on Friday while for the year it has gained over 70 percent.

Banking index drops after RBI move

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The BSE banking index slid more than 1.8 percent on concerns bank profits would be hit after the RBI raised the provision ratio for bad debts on Tuesday.INDIA-STOCKS/6PCT

The RBI on Tuesday asked banks to increase the minimum provision ratio for bad debts to 70 percent from 10 percent by September 2010.

Banking index drops

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The BSE banking index dropped 1.2 percent on Wednesday in a broader market which ended flat.

The benchmark 30-share SenseMARKETS-SOUTHASIA/STOCKSx has more than doubled from the lows in early March, registering a rise of more than 78 percent with foreign funds infusing nearly $14 billion in Indian equities.

BSE Sensex surges past 17,000

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The Sensex rose 1.5 percent on Wednesday to close above the 17,000 mark for the first time since May 2008.

The rise in the benchmark was led by SBI, Maruti Suzuki, BHEL and ICICI Bank. INDIA-STOCKS/

On the sectoral front, the banking sector led the indices gaining 3.6 percent followed by the Auto index, which rose 2.1 percent. The Capital Goods ended 1.7 percent higher.

ICICI Bank rises in weak market

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A man counts money after withdrawing it from an ATM in Jammu October 14, 2008. REUTERS/Amit GuptaShares in ICICI, India’s top private sector bank, gained 3.12 percent on Thursday in a market that ended just 33 points higher.

The banking index rose over 1 percent helped by gains in ICICI Bank, which also ended as the top Sensex gainer.

Banking index slides for 4th day in a row

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The BSE Sensex closed 2.28 percent lower on Friday, extending losses for the week to 3.25 percent.

Leading financial stocks like ICICI Bank and SBI pulled the Banking Index down, which registered a drop of nearly 4 percent – its 4th fall this week.

ICICI Bank leads Sensex decline

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The BSE Sensex ended 0.85 percent down on Tuesday, as investors saw an opportunity to book profits after the market rallied 13.4 percent over the past five sessions.INDIA-STOCKS/6PCT

The 30-share sensitive index swung from an intra-day high of 15,234 to an intra-day low of 14,955 and closed 128 points lower at 15,062.

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