• Source:JND
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Banking Stocks:  Banking stocks have mixed reaction to the rate cut decision taken by US Fed. In the afternoon trade on Wednesday, banking stocks were either trading in red or flat.  The stocks of PNB, and State Bank Of India were trading lower while, IndusInd Bank and Axis Bank were trading flat, however, the HDFC Bank was trading in green.  Meanwhile, the domestic stock indices soared over 0.7 per cent in morning trade following the US Fed's decision to cut rates by 50 basis points.  

HDFC Bank

HDFC Bank is trading high today's trading session. At around 12:55 pm, the banking stock was trading at the level of Rs 1715, up 1.2 per cent or Rs 20. HDFC Bank shares opened positive territory at Rs 1,699.20 and went on to hit Rs 1711.75 level in the morning trade. The blue-chip stock remained underperforming in the last 365 days. In a week, the stock price moved up over 3.7 per cent in the last 30 days HDFC Bank's share price extended over a 5% gain. In last 365 days, the share jumped up merely 7.25%.

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State Bank Of India

SBI stock opened in green at Rs 795.05 in the morning on Thursday but went down following the selling pressure. At around, 1:08 pm, SBI shares were trading at 787.50, down 0.6 per cent. In the last trading session, the SBI shares settled higher at Rs 792.75.

In a week the SBI share price jumped 1.68 per cent, in a month it fell over 3 per cent in a year the SBI stock soared over 31 per cent

Punjab National Bank

Punjab National Bank share price plunged over 2 per cent in afternoon trade on Thursday. The shares were trading at Rs 106.35, down 2.17 per cent, at around 1:18 pm. The stock has been on declining path for the past 30 days as it fell over 7 per cent in a week it went down over 2 per cent but in the last 365 days, the PNB share price surged over 38.65 per cent

ICICI Bank

The stock price of ICICI Bank is trading flat in midday trade hours on Thursday. The shares were trading around Rs 1292.25, up 0.3 per cent. The heavyweight stock jumped over 4% in a week, the share price climbed over 10% in a month and soared over 30 per cent in a year.


Axis Bank

Axis Bank's share price was trading flat on Thursday in mid-hours. At around 1:30 pm, the shares were trading at Rs 1240.15, down 0.3 per cent. The banking stock went up over 4% in a week and over 7% per cent in the last 30 days. In a year Axis Bank's share price surged over 22 per cent.

IndusInd Bank

The shares of IndusInd bank were trading a little high on Wednesday in mid-day trading hours. The stock was trading at Rs 1485, up 0.3 per cent, per share at around 1:36 pm. The private sector bank has been a decent performer in a while. In week, the IndusInd bank share price climbed 4%. In a month, it surged over 8 per cent.

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Disclaimer: This is only a piece of news about recent performances of banking stocks. Jagran does not advise investing, please do take expert opinion before investing.