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Stock Updates: Index trade Flat, Bank Stock Up

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Market front-line indices hit new intraday low level during mid-session, Tuesday. Imperfection in IT major Infosys put a strain on the IT index. At 12:00 hrs, the Nifty slipped below the 11,655 level, down just 1-point while Sensex, was down 35-points at 39,262. Meantime, the Nifty IT index slipped at 14,813.75, down 3.87-percent with major losses in Infosys, HCL Tech.

Though both the benchmarks indices (Sensex, Nifty) at a flat level, all the Nifty sectoral indices are trading in the green. Nifty Bank index rose 1%, Financial service index rose 1.18%, PSU Bank rose 1.2%, Private bank rose 0.98% and Media index rose 1.4%.

Infosys, Tata Motors, HCL Tech, Asian paint, and Tech Mahindra were major losers on Nifty, whereas Yes Bank, ICICI Bank, HeroMotor Corp, Grasim and Titan Company rose the most. For Free stock tips  visit our website.

Shares of the Yes-Bank began trading at Rs.53/- on the NSE today and moved-up over 10-pc-intraday. It was reported that YesBank is set to take over 6.4-acres land parcels in 2-nos, held by real estate developer SumerGroup.  As a result, the share price rallied a 10-percent intraday high level of Rs.56.90 today. Get best stock Tips from the experts.

Nifty Bank index rose 1.41% led by major gains in Yes Bank, ICICI Bank, Bank of Baroda and Axis Bank. Out of 12 banking names in the Nifty IT index, 9 stocks gained, during mid-session.