Indian rupee opened flat at 73.13 per dollar on Tuesday. Domestic equity benchmark indices also opened in the green today. But sooner erased all gains to trade with losses.
India VIX remained still above 15 levels. Tata Steel was up 1 per cent as top Sensex gainer. It was followed by Asian Paints, ITC, HUL, and Titan.
Moreover, Axis Bank was the top drag, followed by Sun Pharma, Kotak Mahindra Bank, ICICI Bank, and Dr Reddy’s.
Some factors that affect bank shares include overall market sentiment, future expectations, fundamental valuation, and the demand for banking services.
Bank shares go up and down depending upon a number of factors playing in the market. For some bank shares are a favourite while others don’t see it as that luring.
The latest Bank shares tally for the moment
|Axis Bank||Rs 784.90|
|HDFC Bank||Rs 1,562.50|
|ICICI Bank||Rs 649.05|
|Yes Bank||Rs 10.90|
|IndusInd Bank||Rs 996.60|
|Bank of Baroda||Rs 77.55|
|Union Bank of India||Rs 34.75|
|Canara Bank||Rs 157.05|
Furthermore, oil prices fell on Monday after Saudi Arabia cut it for Asia revived concerns over the demand outlook.
Aramco notification says that it will cut October official selling prices (OSPs) for all crude grades sold to Asia, its biggest buying region, by at least $1 a barrel.
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