SBI pares gains, falls over 1 per cent on BSE
Shares of the county's largest lender snapped last week's gains to settle at Rs 2,820.25, down 1.02 per cent on the Bombay Stock Exchange.
By PTI |
MUMBAI: After hitting a record high last week, shares of SBI on Monday slipped by over 1 per cent, dragging the bank index down by 0.52 per cent.
Shares of the county's largest lender snapped last week's gains to settle at Rs 2,820.25, down 1.02 per cent on the Bombay Stock Exchange. The fall in the counter caused the BSE -Bankex to dip by 0.52 per cent to 12,132.09.
Shares of SBI had gained over 9 per cent in the last two trading sessions. The scrip had hit an all-time high of Rs 2,879.95 last week after the bank posted a 25 per cent jump in net profit to Rs 2,914.2 crore for the April-June quarter.
On a similar note, the counter lost its strength on the National Stock Exchange, too, and ended at Rs 2,815.15, down 1.23 per cent from the previous close.
"The stock fell in line with the weak broader market. Profit-booking was seen in the entire banking pack," Unicon Financial Services CEO Gajendra Nagpal said.
Meanwhile, the BSE bellwether Sensex finished the day at 18,050.78, down 0.64 per cent from the previous close. SBI was the volume-topper, with about 19 lakh shares traded on the bourses.
Other banking stocks also ended the day in the red, with private sector lender ICICI Bank shedding 1.89 per cent and HDFC Bank falling by 0.15 per cent.
Meanwhile, SBI today raised its benchmark prime lending rate by 50 basis points to 12.25 per cent and hiked fixed deposit rates by up to 1.5 per cent across various maturities.
Shares of the county's largest lender snapped last week's gains to settle at Rs 2,820.25, down 1.02 per cent on the Bombay Stock Exchange. The fall in the counter caused the BSE -Bankex to dip by 0.52 per cent to 12,132.09.
Shares of SBI had gained over 9 per cent in the last two trading sessions. The scrip had hit an all-time high of Rs 2,879.95 last week after the bank posted a 25 per cent jump in net profit to Rs 2,914.2 crore for the April-June quarter.
On a similar note, the counter lost its strength on the National Stock Exchange, too, and ended at Rs 2,815.15, down 1.23 per cent from the previous close.
"The stock fell in line with the weak broader market. Profit-booking was seen in the entire banking pack," Unicon Financial Services CEO Gajendra Nagpal said.
Meanwhile, the BSE bellwether Sensex finished the day at 18,050.78, down 0.64 per cent from the previous close. SBI was the volume-topper, with about 19 lakh shares traded on the bourses.
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Other banking stocks also ended the day in the red, with private sector lender ICICI Bank shedding 1.89 per cent and HDFC Bank falling by 0.15 per cent.
Meanwhile, SBI today raised its benchmark prime lending rate by 50 basis points to 12.25 per cent and hiked fixed deposit rates by up to 1.5 per cent across various maturities.
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