State Bank Of India: Market Now: SBI, BoB pull Nifty PSU Bank index in the green zone

NEW DELHI: Decent gains in PSU bank stocks such as State Bank of India (up 1.53 per cent), Andhra Bank (up 1.21 per cent), Bank of Baroda (up 1.18 per cent) and Syndicate Bank (up 0.72 per cent) helped Nifty PSU Bank index to emerge as the top sectoral gainer on NSE in Wednesday’s trade.

The Nifty PSU Bank index was trading 1.21 per cent up at 3,284 around 12.15 pm (IST).

Benchmark Nifty50 index was 3 points down at 10,144, while the 30-share Sensex was 16 points up at 32,418 around the same time.

Canara Bank (down 0.09 per cent) was the only drag in the PSU bank index at that time.

Besides PSU bank index, pharma, FMCG and realty indices also moved up.

Equity benchmarks continued trading flat with auto stocks as biggest laggards.

Hero MotoCorp, Tata Motors, Sun Pharma, Hindustan Unilever and Asian Paints declined over 1 per cent in the Nifty50 index.

However, Dr Reddy’s sustained the upward momentum, gaining up to 3 per cent. Oil & Natural Gas Corporation, State Bank of India, Reliance Industries and Larsen & Toubro were the other Nifty gainers.

On the NSE, 856 stocks were advancing, compared with 742 stocks declining and 358 stocks remaining unchanged.

On BSE, 1,235 stocks were advancing whereas 1,131 stocks were lagging and 144 stocks were appearing unchanged.

For trending stocks and buzzing news, track this LIVE BLOG from Dalal Street