Banking stocks drag markets down at the end
May 27th, 2008
The Indian stock markets that have started the day rather flat have changed the course towards the red territory post mid-day. The Bank Nifty is down 2.56% today.
Oriental Bank of Commerce (OBC) is down 6.02%. IDBI is down 5.23%, Bank of India down by 5.02%. Bank of Baroda is down 4.87% while SBI is down 4.13%. Mild tremors are also seen on HDFC Bank and ICICI Bank today. Infact SBI, IDBI, PNB and HDFC feature in the Top 10 losers on the Nifty today.
Outside the banking stocks, other major losers include Unitech, Power Grid, Suzlon, Reliance Petrol, Idea and Tata Power.
Entry Filed under: Equity Markets, Banks & NBFC, Closing Bell
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