It was a good day for banking counters, as the banking index ended with gains of 1.5 percent in a Mumbai market that ended 200 points higher.
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
The BSE banking index fell 0.55 percent on Tuesday after gaining 3.7 percent over the last four sessions.