BAROMETERS TRADE WITH MINOR LOSSES; PSU BANK SHARES UNDERPRESSURE

The key equity indices traded with minor cuts in morning trade. The Nifty traded below the 25,950 mark after hitting the day�s high of 25,954.15 in morning trade. PSU bank shares extended losses for the second consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex shed 34.35 points or 0.04% to 84,877.61. The Nifty 50 index lost 28.10 points or 0.11% to 25,912.30.

In the broader market, the S&P BSE Mid-Cap index fell 0.50% and the S&P BSE Small-Cap index shed 0.17%.

The market breadth was negative. On the BSE, 1,645 shares rose and 2,009 shares fell. A total of 151 shares were unchanged.

Buzzing Index:

The Nifty PSU Bank index slipped 1.04% to 6,724.15. The index fell 1.89% in two consecutive trading sessions.

Punjab National Bank (down 2.62%), Indian Overseas Bank (down 1.94%), Bank of Maharashtra (down 1.64%), UCO Bank (down 1.34%), Central Bank of India (down 1.06%), Bank of India (down 0.98%), Punjab & Sind Bank (down 0.82%), Canara Bank (down 0.61%), State Bank of India (down 0.61%) and Bank of Baroda (down 0.31%) declined.

Stocks in Spotlight:

Mazagon Dock Shipbuilder added 1.34% after the company commenced the production activity for the first multi purpose cargo vessel for Navi Merchants, Denmark.

PC Jeweller advanced 1.85% after the company�s board will consider a stock split on 30 September 2024.

Hariom Pipes rose 1% after the company�s board has approved the raising up to Rs 700 crore via equity or other securities.

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