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Markets open flat: Banks under perform

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Markets open flat: Banks under perform
Indian benchmark indices opened flat in trade on Thursday, with the NSE trading up 0.50 points at 5505 points and the BSE Sensex marginally up 6 points at 8151 points at 9.20 am IST.

Banks stocks particularly public sector banks lost ground today, after the sharp rally witnessed in the last few days.

 

Shares of Bharti Airtel too lost heavy ground, after reports that Econet Wireless was seeking at least $3.1 billion in damages from Bharti Airtel over a dispute over ownership of its subsidiary Airtel Nigeria.

State Bank of India recovered in trading on Thursday, after plunging more than 8% in trading on Wednesday.

Smaller public sector banks that had rallied sharply in the last few weeks including UCO Bank, Andhra Bank, United Bank and Dena Bank lost ground.

GoodReturns.in

Read more about: bse nse banks
Story first published: Thursday, February 23, 2012, 9:36 [IST]
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