Nifty Bank index up amid reports of NPA review by PM

NEW DELHI: The Nifty Bank index reacted positively to the reports that PM Modi is going to review the measures taken by the RBI to resolve the NPA issue of Indian PSU banks on Monday, as the index was trading 120.35 points up at 23623.10 in Monday’s trade around 11.15 am (IST).

Following the development, shares of IndusInd Bank (up 1.39 per cent), Canara Bank (up 1.38 per cent), Bank of Baroda (up 0.60 per cent), HDFC Bank (up 0.53 per cent), Kotak Mahindra Bank (up 0.53 per cent), ICICI Bank (up 0.47 per cent), Punjab National Bank (up 0.44 per cent) and State Bank of India (up 0.33 per cent) were trading as top gainer bank stocks.

However, YES Bank (down 1.03 per cent ), IDFC Bank (down 0.26 per cent ) and Axis Bank (down 0.12 per cent ) were among top losers in the index at around the same time.

Benchmark NSE Nifty50 index was up 40.80 points at 9,628.85, while BSE Sensex was up 160 points at 31,216.42.

Among the 51 stocks in Nifty index, 28 were trading in green, while 23 were in red.

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Shares of SBI, DLF, Adani Ports SEZ, ICICI Bank, Vedanta Ltd, Tata Steel, ITC, NHPC, PNB, Sun Pharma, Bank of Baroda, RIL, Ashok Leyland, Hindalco, BEL, JSW Steel, ONGC, Tata Motors, PFC and Sun TV were among most traded securities.