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PSBs slide up to 8% after investors take profit
Public sector bank stocks, led by
PNB, today fell by up to 8 per cent due to profit-booking in a
volatile broader market.
Punjab National Bank plunged as much as 7.95 per cent,
Allahabad Bank 7.76 per cent and Bank of India 6.80 per cent
on the BSE.
Among others, Bank of Baroda tanked 5.96 per cent, Union
Bank of India 5.85 per cent, Syndicate Bank 5.39 per cent, UCO
Bank 5.38 per cent and SBI 3.03 per cent.
The BSE bank index also fell by 0.82 per cent to end at
"Domestic indices remained volatile within a narrow range
as a mixed bag of corporate numbers and profit-booking in PSBs
crippled the market's momentum," said Anand James, Chief
Market Strategist, Geojit Financial Services Ltd.
Bank stocks were on fire on Wednesday, surging up to 46
per cent following the government's announcement of Rs 2.11
lakh crore recapitalisation plan to strengthen NPA-hit public
Yesterday, the bank stocks ended on a mixed note.
The BSE 30-share Sensex ended 10.09 points higher at
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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