INSUBCONTINENT EXCLUSIVE:
NEW DELHI: PSU bank stocks were trading mixed in morning trade on Tuesday.
The Nifty PSU Bank index was trading 0.61 per cent up at 3,246
Shares of Andhra Bank (up 1.96 per cent), State Bank of India (up 1.11 per cent), Oriental Bank of Commerce (up 1.05 per cent), Allahabad
Bank (up 0.76 per cent) and Punjab National Bank (up 0.17 per cent) were the gainers in the PSU Bank index
However, Bank of Baroda (down 1.32 per cent), Syndicate Bank (down 1.09 per cent), Canara Bank (down 0.88 per cent), Union Bank of India
(down 0.34 per cent), IDBI Bank Ltd
(down 0.25 per cent) and Indian Bank (down 0.14 per cent) were the losers in the index around that time
Indian equity market was in the negative territory tracking weak global cues.
Investors held back their bets as RBI's monetary policy
RBI Governor Urjit Patel-headed Monetary Policy Committee (MPC) is expected to announce its decision on the key policy rates on
Wednesday.
Global stocks fell as investors awaited critical monetary policy decisions this week
The Federal Reserve's Federal Open Market Committee too will announce its decision on Wednesday.
Benchmark NSE Nifty50 index was down 38
points at 11,281, while the BSE Sensex was 137 points at 37,358.
Among the 50 stocks in the Nifty index, 23 were trading in the green, while
Tech Mahindra, with a gain of nearly 4 per cent, was leading among Nifty gainers
The IT firm on Monday reported a 12.4 per cent rise in consolidated net profit at Rs 897.9 crore for the June quarter.
The company's net
profit, however, declined 26.5 per cent compared with the March quarter, while the revenue was up 2.8 per cent.
