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Andhra Bank Plunges 11%, While PNB, SBI among Most Traded Stocks

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Andhra Bank Plunges 11%, While PNB, SBI among Most Traded Stocks

On Monday, it was observed that the shares of PSU banks were trading in the negative zone in morning session. The list of PSU banks included Andhra Bank, Oriental Bank of Commerce and IDBI Bank. These bank’s shares were trading in the negative zone.

According to the experts, it was analyzed that around at 10 am, the Nifty PSU Bank index was trading 1.27 percent down at 2,822. If it is to list the shares those were also in the red. Then the list would include Canara Bank, Union Bank of India, State Bank of India, Allahabad Bank, Punjab National Bank, Syndicate Bank and Bank of India. In the Nifty PSU Bank index, Bank of Baroda was the only component that was slightly up at 10 am.

It was seen that the benchmark NSE Nifty50 index was up 95 points at 10,322 level. On the other hand, the BSE Sensex was up 296 points at 33,604 level. Out of total 50 stocks in the Nifty 50 index, 43 were trading in the green. Rest of the stocks were trading in the red. The list of stocks those were among the top gainers in the Nifty50 index include HCL Technologies, ITC, Tech Mahindra, Tata Steel and Vedanta. But the list of top losers includes Coal India, State Bank of India, Asian Paints, Bosch and Hindustan Unilever.

On Monday morning session of trade, ITC, Punjab National Bank and State Bank of India were also noted as the most traded stocks on NSE. Many of the stocks were most traded stocks on NSE. Today, Ashok Leyland, Tata Steel, SAIL, Hindalco Industries, Bank of Baroda, Vedanta, ICICI Bank, PFC and Tata Motors were most traded stocks on NSE.

On Monday, the benchmark indices opened higher on Monday. This tracked the firm global cues. In the last week, it was observed that on Friday, US stocks surged after strong jobs data. Analysts explained that this coupled with lower-than-expected wage growth eased inflation concerns a bit. It also raised hopes that the US Fed may not go in for aggressive rate hikes. You will find that in the Nifty 50 index, ITC, Vedanta, Tech Mahindra, Tata Steel and Wipro climbed up to 2 percent. Whereas, the State Bank of India, Ambuja Cements, Coal India, Asian Paints, Oil and Natural Gas Corporation along with YES Bank were among the top losers.

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