INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Most PSU bank stocks were trading marginally lower in the morning session of trade on Friday.
Union Bank of India (down 1.13 per
cent), Andhra Bank (down 0.76 per cent) and Syndicate Bank (down 0.50 per cent) declined up to 1 per cent.
Bank of Baroda (BoB) (down 0.37
per cent), Allahabad Bank (down 0.37 per cent), IDBI Bank (down 0.32 per cent), Bank of India (down 0.32 per cent), Indian Bank (down 0.28
per cent) and Canara Bank (down 0.23 per cent) declined by slight margins
Shares of Oriental Bank of Commerce (down 0.18 per cent) and State Bank of India (down 0.05 per cent) too were lacklustre
But, the fall of Nifty PSU Bank index was restricted by gains in Punjab National Bank (up 1.72 per cent)
The index was trading 0.06 per cent down at 3,236 around 10:25 am
Domestic market was in a cautious mood, tracking global cues as US-China trade talks ended without any major breakthrough.
The two-day talk
between the US and Chinese officials ended without any solution to the trade dispute
Benchmark NSE Nifty50 index was down 9 points at 11,574, while the BSE Sensex was 24 points down at 38,312
Among the 50 stocks in the Nifty index, 23 were trading in the green, while 26 were in the red
UPL, Power Grid Corporation of India, Grasim Industries, Coal India and Bajaj Finance were among the top gainers, while ICICI Bank, Cipla,
Titan Compan, Sun Pharma and Hindalco Industries were among the top losers in the Nifty index.
