Bank stocks end mixed after sharp gains; UBI surges 5.88%
New Delhi: Bank stocks ended on a mixed note today, a day after sharp rally following the government's announcement of Rs 2.11 lakh crore recapitalisation plan for strengthening NPA-hit public sector lenders.
Shares of Union Bank of India surged 5.88 per cent, Punjab National Bank jumped 5.60 per cent and Bank of India rose 2.79 per cent on BSE.
In contrast, Syndicate Bank plunged 3.66 per cent, Bank of Baroda slipped 1.51 per cent and SBI lost 1.25 per cent.
Private lenders such as AXIS Bank rose 2.48 per cent and YES Bank went up 1.24 per cent, while ICICI Bank lost 2.08 per cent.
The BSE bank index went up 1.07 points to end at 28,330.19.
Bank stocks were on fire yesterday, surging up to 46 per cent.
"Profit-booking in some PSBs and derivatives’ expiry kept markets guessing," said Anand James, Chief Market Strategist, Geojit Financial Services Ltd.
The BSE 30-share index rose 104.63 points to end at 33,147.13.