Share market update: SBI, PNB lift Nifty PSU Bank index

NEW DELHI: Gains in shares of IDBI Bank (up 1.10 per cent), Punjab National Bank (PNB) (up 0.92 per cent), State Bank of India (SBI) (up 0.51 per cent) and Indian Bank (up 0.20 per cent) lifted Nifty PSU Bank index in Monday's session.

The Nifty PSU Bank index was trading 0.32 per cent up at 2,709 around 12:15 pm.

However, a majority of index components still were under pressure.

Vijaya Bank (down 2.44 per cent) and Central Bank of India (down 2.31 per cent) were the top losers in the index.

Shares of Syndicate Bank (down 1.29 per cent) and Canara Bank (down 1.20 per cent) declined over 1 per cent.

Shares of Bank of Baroda (down 0.45 per cent), Bank of India (down 0.33 per cent), Oriental Bank of Commerce (down 0.33 per cent) and Union Bank of India (down 0.15 per cent) too were in the red.

Equity benchmarks Sensex and Nifty were down amid mixed global cues. Worries over falling rupee, rising crude oil prices and uncertainty over the RBI policy meet later this week weighed on investor sentiment.

The NSE Nifty50 index was down 86 points at 10,844, while the BSE Sensex was 194 points down at 36,033.

Among the 50 stocks in the Nifty index, 14 were trading in the green, while 36 were in the red.

Tata Consultancy Services, YES Bank, Infosys, Hindalco Industries and Wipro were among the top gainers in the Nifty index.

Kotak Mahindra Bank, Ultratech Cement, HPCL, Bajaj Finance and Larsen & Toubro were among the top losers in the Nifty pack of stocks.