INSUBCONTINENT EXCLUSIVE:
MUMBAI: Many traders booked profits on their cash market positions in most of the eleven state-owned banks under the prompt and corrective
action framework (PCA) as the RBI board meet continued well after market closing on Monday
This is clearly indicated by the deliverable quantity to traded quantity as a percentage being lower than the three-month average in eight
of the eleven PCA banks.
The three banks which witnessed a higher delivery percentage than the historical average are IDBI, Dena and Central
Bank of India.
From market closing (up 0.76 per cent at 10,763.4), it appeared that traders had ruled out the possibility of the RBI
governor resigning, or irreconciliable issues cropping up between the finance ministry and the governor.
This was evident in traders selling
lakh shares), which implies continuation of the bounce market has witnessed from the low of 10,004.55 on October 26 through Monday
