Broader market outperforms; bank stocks decline

The equity benchmarks pared losses in morning trade. The Nifty was trading a tad above the 17,200 mark. Banks stocks declined for the second day in a row.

At 10:21 IST, the barometer index, the S&P BSE Sensex, was down 79.63 points or 0.14% to 57,605.19. The Nifty 50 index lost 20.85 points or 0.12% to 17,224.80.

In the broader market, the S&P BSE Mid-Cap index added 0.35% while the S&P BSE Small-Cap index rose 0.36%.

Buyers outnumbered sellers. On the BSE, 1697 shares rose and 1338 shares fell. A total of 135 shares were unchanged.

Buzzing Index:

The Nifty Bank index slipped 0.84% to 35,843.10. The index has declined 1.39% in two sessions.

Kotak Mahindra Bank (down 2.94%), HDFC Bank (down 1.23%), ICICI Bank (down 1.36%), IDFC First Bank (down 0.37%) and Bandhan Bank (down 0.13%) declined.

AU Small Finance Bank (up 1.65%), RBL Bank (up 0.78%), Punjab National Bank (up 0.56%), SBI (up 0.52%), Federal Bank (up 0.24%) and IndusInd Bank (up 0.20%) advanced.

Stocks in Spotlight:

Filatex India shed 0.31% to Rs 128. The company will consider buyback of equity shares on 29 March 2022.

IRCTC advanced 0.13% to Rs 767.60. The company has extended Rajni Hasija`s term as CMD till 31 July 2022.

Colgate Palmolive slipped 0.70% to Rs 1516.70. The company`s board will consider declaration of interim dividend on 28 April 2022.

Edelweiss Financial Services fell 1.38% to Rs 53.50. The company`s board will consider declaration of interim dividend on 29 March 2022.

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