Nifty Bank index up 1%; HDFC Bank up 2%

Shares of HDFC Bank and IndusInd Bank gained 2%, followed by shares Axis Bank, which were marginally high.

Mar 13, 2019 07:03 IST India Infoline News Service

The Nifty Bank index was trading higher at 28,836 in the noon trade on Wednesday. HDFC Bank and IndusInd Bank gained over 2%, followed by Axis Bank are also trading marginally up.

Shares of PNB, Bank of Baroda, and RBL Bank fell 2%, and those of Yes Bank, SBI, and ICICI Bank dropped 1%.

However, shares of Axis Bank were trading marginally up after the lender named Rakesh Makhija as non-executive chairman of the bank for a period of three years with effect from July 18.

Shares Kotak Mahindra Bank snapped three day’s rally after the Bombay Court rejected the bank's plea for interim protection on founder stake issue. The bank’s lawyer Harish Salve stated that the bank can give an undertaking that founders won’t vote in excess of 20 percent until May 2020.

Meanwhile, equity benchmark indices were trading in the green with the Sensex gaining 81 points to 37,617 levels. The Nifty too gained 8 points to trade at the 11,300-mark.

Stock view:
HDFC Bank Ltd is currently trading at Rs2,224.35, up by Rs53.75 or 2.48%, from its previous close of Rs2,170.60 on the BSE.

IndusInd Bank Ltd is currently trading at Rs1,610.90, up by Rs39.9 or 2.54%, from its previous close of Rs1,571 on the BSE.

Axis Bank Ltd is currently trading at Rs739.80, down by Rs2.45 or 0.33%, from its previous close of Rs742.25 on the BSE.

Punjab National Bank is currently trading at Rs83.85, down by Rs1.5 or 1.76%, from its previous close of Rs85.35 on the BSE.

Bank of Baroda is currently trading at Rs113.95, down by Rs1.35 or 1.17%, from its previous close of Rs115.30 on the BSE.

RBL Bank Ltd is currently trading at Rs626.40, down by Rs6.3 or 1%, from its previous close of Rs632.70 on the BSE.

Yes Bank Ltd is currently trading at Rs234.60, down by Rs1.1 or 0.47%, from its previous close of Rs235.70 on the BSE.

ICICI Bank Ltd is currently trading at Rs385.95, down by Rs2.25 or 0.58%, from its previous close of Rs388.20 on the BSE.

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