BSE BANKEX-Banking Index

[gopu]

For the week ended July 31, 2009, Sensex rose 1.9% and NSE Nifty rose 1.5%. The Foreign Institutional Investors bought stocks worth Rs 30.84 billion during the week. In addition to good corporate results, announcement of additional stimulus by the government and RBI’s forecast for GDP growth at 6.5% in the current fiscal lifted the market sentiments.

The BSE Banking Index, Bankex went up by 1.6%. The top bank stock gainer was State Bank of India which increased over 6% during the week on back of good quarterly results. Other major gainers were Canara Bank (+ 4.1%), Andhra Bank (+ 3.6%), HDFC Bank (+ 3.4%), Kotak Mahindra Bank (+ 3.1%). However Bank of India was the top loser & was down 5.7% during the week.