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Stock market update: Bank stocks mixed ahead of RBI's policy outcome; IndusInd Bank, Kotak Bank rise 1%

The Nifty Bank index was trading almost flat at 27,756 around 09:45 am.

ETMarkets.com|
Updated: Aug 01, 2018, 10.30 AM IST
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Stock market update: Bank stocks mixed ahead of RBI's policy outcome; IndusInd Bank, Kotak Bank rise 1%
Among the 50 stocks in the Nifty index, 31 were trading in the green, while 19 were in the red.
NEW DELHI: Bank stocks were trading mixed in morning trade of Wednesday, ahead of RBI's monetary policy meet outcome.

The Nifty Bank index was trading almost flat at 27,756 around 09:45 am.

IndusInd Bank (up 1.29 per cent) and Kotak Mahindra Bank (up 1.17 per cent) were the top gainers in the Nifty Bank index.

Shares of YES Bank (up 0.26 per cent), IDFC Bank (up 0.25 per cent) and State Bank of India (up 0.15 per cent) too were in the green.

However, Bank of Baroda (down 1.57 per cent) and Axis Bank (down 1.16 per cent) were the top losers in the bank index.

Shares of HDFC Bank (down 0.55 per cent), RBL Bank (down 0.48 per cent), Federal Bank (down 0.34 per cent), ICICI Bank (down 0.13 per cent) and Punjab National Bank (down 0.12 per cent) too were under pressure.

Equity market was in the positive territory, awaiting the outcome of the RBI's monetary policy committee meeting.

Asian stocks were mixed after reports that Trump administration may increase the tariff on $200 billion of imported Chinese goods from 10 per cent to 25 per cent.

Benchmark NSE Nifty50 index was up 19 points at 11,375, while the BSE Sensex was up 47 points at 37,654.

Among the 50 stocks in the Nifty index, 31 were trading in the green, while 19 were in the red.

Adani Power, Reliance Communications, Tata Motors and BEL were among the most traded stocks on NSE.


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