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Banking stocks - The banking stocks have been on a run today. BSE Bankex has outperformed the domestic indices as well as other sectoral indices by gaining 2.12 per cent on an intraday basis.
Presenting a detailed breakdown of the BSE bankex stocks returns for various banks in the past year. While SBI and ICICI bank yielded the strongest returns over the 12-month period, Bandhan Bank performed the worst.
HDFC Bank and Kotak Mahindra Bank put together help BSE Bankex stay in green
Banking basket hit badly Except for Bandhan Bank, all other BSE Bankex constituents settled in the red. Axis Bank closed 5.98 per cent lower at Rs 474.20. Kotak Mahindra Bank declined 5.96 per cent to Rs 1,782.35.
In October 2020, among the various sector benchmarks, top gainer was S&P BSE Bankex which rose by 12.5%, whereas S&P #BSE Health Care fell the most with returns of -2.7% #StockMarkets #MutualFunds
Data available till November 15 showed the financial services sector has seen Rs 16,389 crore inflow this month. These flows include Rs 11,519 crore investments in bank stocks. The BSE Bankex has risen 19 per cent so far this month.
Banking stocks take a beating The entire BSE Bankex basket fell 2.75 per cent and was the worst performing sectoral index for the day. Among the index stocks, Federal Bank tanked 5.65 per cent to Rs 58.40. SBI plunged 4.84 per cent to Rs 239.85.
Sectorally, the S&P BSE Bankex was up 3.7 percent, followed by the S&P BSE Finance which rose 3.03 percent, and the S&P BSE Telecom index closed with gains of 2.02 percent. Volume spike of more than 100% was seen in RBL Bank, Mannapuram Finance, and Bajaj Auto.
Top Nifty gainers included Axis Bank, Bajaj Finance, and IndusInd Bank. Top Nifty losers included Nestle India, Wipro, and HUL. S&P BSE power index rose 3.4 percent, the BSE Bankex was up 3.3 percent and the BSE public sector was up 3 percent.
While going through market cap sheet, suddenly realise that Reliance has higher market cap then BSE Bankex Index (HDFC Bank, Kotak, ICICI, SBI, Axis, Bandhan, Indusind, CUB, Federal & RBL combined)
Banking stocks led the losses with BSE bankex losing 918 points to 26,972 against previous close of 27,891. BSE healthcare index slipped 891 points to 18,387. All 19 BSE sectoral indices closed in the red. Bank Nifty too fell 769 points or 3.14% to 23,754.
BSE Bankex climbs 900 points intraday! What's fueling the rally
Sectorally, the S&P BSE Bankex was up 2.4 percent followed by the S&P BSE finance that gained 2 percent and the S&P BSE Telecom index closed with gains of 1.6 percent.
Sectorally, the S&P BSE Power index rose 2.8 percent followed by the S&P BSE Utilities index that was up 2.6 percent and the S&P BSE Bankex gained 1.2 percent.
Sectorally, the S&P BSE IT index rose 4 percent followed by the S&P BSE Healthcare index, which was up 1.2 percent. The S&P BSE Bankex rose 1.2 percent. Selling pressure was seen in the S&P BSE Telecom index that was down 1.5 percent and the S&P BSE Power index fell 0.96 percent
Selling pressure was seen in the S&P BSE Realty index that was down 1.5 percent, followed by the S&P BSE Finance index that fell 1.4 percent, and the S&P BSE Bankex was down 1.3 percent.
Sectorally, the action was visible in the S&P BSE Metal index that was up 2.1 percent, followed by the S&P BSE Finance index that rose 1.5 percent, and the S&P BSE Bankex closed with gains of 1.4 percent.
Sectorally, the S&P BSE Bankex fell 4.08 percent followed by the S&P BSE Telecom index which was down 3.1 percent. The S&P BSE Realty index fell 2.7 percent.
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