INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Gains in State Bank of India (SBI) (up 0.99 per cent), Oriental Bank of Commerce (up 0.54 per cent), Canara Bank (up 0.49 per
cent) and Bank of India (up 0.20 per cent) were keeping the Nifty PSU Bank index in the green during Tuesday's trade
team for better collections from NCLT accounts, sale of loan to ARCs, one-time settlement and recovery through loan camps for retail
The bank hopes to recover more than Rs 30,000 crore from NCLT cases alone
The Nifty PSU Bank index was trading 0.71 per cent up at 3,051 around 10:30 am
However, shares of IDBI Bank (down 0.65 per cent), Allahabad Bank (down 0.55 per cent), Andhra Bank (down 0.54 per cent) and Bank of Baroda
(down 0.49 per cent) were trading in the lower terrain around that time.
Shares of Syndicate Bank (down 0.29 per cent), Punjab National Bank
(down 0.22 per cent) and Indian Bank (down 0.22 per cent) were also in the red, while shares of Union Bank of India (down 0.05 per cent)
were almost flat.
Equity markets were in the green as investors looked forward to release of key macroeconomic data due today amid a firming
trend in Asia.
Buying was observed in most sectors, with pharma and IT leading
Metal stocks, however, were under pressure at that time.
Benchmark NSE Nifty50 index was up 50 points at 10,837, while the BSE Sensex was up
173 points at 35,657.
Among the 50 stocks in the Nifty index, 37 were trading in the green, while 13 were in the red
Reddy's Laboratories and Sun Pharma were leading among Nifty gainers.
