Nifty PSU Bank index likely to snap 4-days losing streak
Nifty PSU Bank index moved higher during the Friday’s trading session snapping its four days losing streak.
Bank of Baroda was the top gainer on the index trading higher by Rs 5.55 per share or 3.57% at Rs 161.05 per share. Early stress recognition and a modest 58% exposure to high non-performing assets (NPA) is likely to result in a softer hit on books for the current financial year, reported a leading research agency. It also believes that the loan growth for Bank of Baroda is likely to increase in FY17-19.
Bank Nifty has moved to red zone trading at 23,183 level down by 43 points or 0.19%. Private bank stocks like HDFC Bank and ICICI Bank have nullified the morning gains of the index led by Bank of Baroda.
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Via:: Stock – India Infoline