Stock Market

Top Bank Stocks Update: Nifty Bank Trades Down; Losses In Shares Of IDFC Bank, ICICI Bank And SBI

Losses in shares of top bank stocks like Bank of Baroda (BoB) (down 3.13 percent), IDFC Bank (down 1.48 percent), ICICI Bank (down 1.14 percent) and State Bank of India (SBI) (down 0.90 percent) were weighing on bank list in October 9, 2018, session. The Nifty Bank record was exchanging 0.12 percent down at 24,590.

Shares of Punjab National Bank (down 0.92 percent), YES Bank (down 0.69 percent), RBL Bank (down 0.60 percent), Federal Bank (down 0.26 percent) and IndusInd Bank (down 0.09 percent) were in the red.

However, YES Bank (up 2.74 percent), RBL Bank (up 1.24 percent), Kotak Mahindra Bank (up 2.08 percent), HDFC Bank (up 0.23 percent) and State Bank of India (up 0.14 percent), IndusInd Bank (up 0.44 percent) and Axis Bank (up 0.19 percent) were in the green.

In top bank stocks, benchmark NSE Nifty50 record was up 26 points at 11,314, while the BSE Sensex was up 109 at 37,522.

Among the 50 stocks in the Nifty record, 22 were exchanging the green, while 28 were in the red. The Bank of Baroda has announced a Gross Non Performing Assets (Gross NPAs) of Rs 55874.81 Crore (12.46 percent of aggregate resources) and Net Non Performing Assets (Net NPAs) of Rs 22384.10 Crore (5.40percent of aggregate resources).

For the quarter finished 31-03-2018, the ICICI bank has announced a Consolidated Interest Income of Rs 11310.56 Crore, up 4.27 percent from last quarter Interest Income of Rs 10846.94 Crore and up 6.85 percent from a year ago same quarter Interest Income of Rs 10585.33 Crore.

Adani Ports, PowerGrid, Hindustan Unilever, Grasim Industries and Kotak Mahindra Bank, HDFC, Vedanta, Zee Entertainment and Bajaj Finance were among the best Nifty gainers.

In top bank stocks Axis Bank, HPCL, Titan Company, Tata Motors, Titan Company, Eicher Motors, HPCL and Hindustan Unilever, Mahindra and Mahindra and Tata Motors were among the failures in the Nifty list, according to the report of Economic Times.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
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