Banking stock continue to slip; Sensex sheds 250 points
August 21st, 2008
Thursday, August 21, 2008 11:57:46 AM
The Markets are back into red after happing a reasonably good day yesterday. The NSE Nifty is down by 1.92% and is at 4330.95 levels. CNX IT is down 1.17% and Bank Nifty is down 3.22%
BSE Sensex has lost 252 odd points so far and is now at 14426.00 levels. Midcap and Smallcap indices on the BSE are down by 0.88% and 0.66% respectively. Realty, Bank and PSU stocks are on the losing side.
SBI is down 4.7% and is currently at 1375.30 levels on the NSE. Other major banking stock losers include Kotak Mahindra Bank and HDFC Bank (both down over 3%), Bank of India, ICICI Bank, Axis Bank, IDBI (all down over 2%), OBC, PNB, Bank of Baroda, Union Bank and Canara Bank (all marginally down).
Brokerage firms are giving a sell rating for Punjab National Bank (PNB). The stock is currently trading at Rs. 456.15
Entry Filed under: Equity Markets, Banks & NBFC
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