State bank shares gain on GDP farming index

Shares in public sector banks turn positive after April-June GDP data showed the farm sector grew more strongly than expected, easing worries of rural non-performing assets.

Farm output rose 2.9 in the April-June quarter. State banks are seen particularly exposed to the farming sector.

State Bank of India gains 0.8 percent, Bank of India rises 0.9 percent, while Union bank gains 2.8 percent.

The Nifty falls 0.46 percent while the Sensex falls 0.25 percent.