Barometers trade with minor losses; PSU bank shares underpressure

The key equity indices traded with minor cuts in morning trade. The Nifty traded below the 25,950 mark after hitting the days high of 25,954.15 in morning trade. PSU bank shares extended losses for the second consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex shed 34.35 points or 0.04% to 84,877.61. The Nifty 50 index lost 28.10 points or 0.11% to 25,912.30.

In the broader market, the S&P BSE Mid-Cap index fell 0.50% and the S&P BSE Small-Cap index shed 0.17%.

The market breadth was negative. On the BSE, 1,645 shares rose and 2,009 shares fell. A total of 151 shares were unchanged.

Buzzing Index:

The Nifty PSU Bank index slipped 1.04% to 6,724.15. The index fell 1.89% in two consecutive trading sessions.

Punjab National Bank (down 2.62%), Indian Overseas Bank (down 1.94%), Bank of Maharashtra (down 1.64%), UCO Bank (down 1.34%), Central Bank of India (down 1.06%), Bank of India (down 0.98%), Punjab & Sind Bank (down 0.82%), Canara Bank (down 0.61%), State Bank of India (down 0.61%) and Bank of Baroda (down 0.31%) declined.

Stocks in Spotlight:

Mazagon Dock Shipbuilder added 1.34% after the company commenced the production activity for the first multi purpose cargo vessel for Navi Merchants, Denmark.

PC Jeweller advanced 1.85% after the companys board will consider a stock split on 30 September 2024.

Hariom Pipes rose 1% after the companys board has approved the raising up to Rs 700 crore via equity or other securities.

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