INDICES TRADE WITH LIMITED LOSSES; PRIVATE BANK SHARES DECLINE
Published on Jul 05, 2024 10:33
The domestic equity indices traded with moderate losses in morning trade. The Nifty traded below 24,250 mark. Private bank shares declined after rallying for two consecutive trading sessions.
At 10:25 IST, the barometer index, the S&P BSE Sensex was down 406.19 points or 0.49% to 79,663.07. The Nifty 50 index fell 82.40 points or 0.34% to 24,219.75.
In the broader market, the S&P BSE Mid-Cap index added 0.27% and the S&P BSE Small-Cap index rose 0.57%.
The market breadth was strong. On the BSE, 2,030 shares rose and 1,585 shares fell. A total of 133 shares were unchanged.
Buzzing Index:
The Nifty Private Bank index declined 1.37% to 26,161.45. The index increased 2.05% in the past two trading sessions.
HDFC Bank (down 4%), RBL Bank (down 2.65%), Bandhan Bank (down 1.81%), City Union Bank (down 1.47%) and IndusInd Bank (down 1.04%), ICICI Bank (down 0.71%), Kotak Mahindra Bank (down 0.26%), Axis Bank (down 0.23%) advanced.
HDFC Bank declined 4%. The bank said that its gross advances aggregated to approximately Rs 24.87 lakh crore as of 30 June 2024, a growth of around 52.6% over Rs 16.30 lakh crore as of 30 June 2023.
Stocks in Spotlight:
IDBI Bank rose 0.33%. The bank reported total business of Rs 4.71 lakh crore, up 15% year-on-year while the deposits increased 13% YoY to Rs 2.77 lakh crore. CASA deposits grew 5% YoY to Rs 1.34 lakh crore in Q1 FY25.
Punjab National Bank advanced 1.23% after the bank�s domestic advances jumped 12.1% YoY to Rs 9.89 lakh crore while deposits grew 8.1% YoY to Rs 13.7 lakh crore. Global deposits stood at Rs 14.08 lakh crore, up 8.5% YoY in Q1 FY25.
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