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Stock Watch: Buying support for PSU Bank shares

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Key benchmark indices were moving between gains and losses in Tuesday’s trading session, in spite of positive global cues.

At around 11.15-am, the Sensex stood at 40,310, up by 8 points, while the NSE Nifty traded at 11,938-level down by 2.8-points.

PSU Bank stocks were trading higher with the Nifty PSU Bank rising 1.42% at 2,596.70.

The Nifty PSU Bank Index, which represents twelve numbers of banking shares, wherein 8 banking names gained on the NSE.

Canara Bank (up 2.19%), State bank of India (up 2%), Bank of Baroda (up 1.67%), Syndicate Bank (up 1.37%), Allahabad Bank, Bank of India and Union Bank (up by 1.05% each) were the major leading stocks on the Nifty PSU Bank. Get the best stock Tips from the Top Advisory experts.

On the other hand, one of the major sectoral losers among the Nifty sectoral indices, was the Nifty IT index. The Nifty IT index currently slipped 0.54% led by loses in Mindtree, NIIT Tech, Infosys, which slipped over 1 percent each.

Out of 50 stocks in the Nifty, 25 stocks advanced, while the equal number of stocks were falling. For Free stock tips, visit our website.