Share market update: PSU Bank shares gain; J&K Bank jumps over 7%

Source: economictimes.indiatimes.com

NEW DELHI: Shares of PSU banks were trading with gains in Friday’s afternoon session.

Shares of Jammu & Kashmir Bank (up 7.63 per cent), Syndicate BankNSE 0.40 % (up 2.69 per cent), Union Bank of IndiaNSE 0.53 % (up 1.06 per cent) and Oriental Bank of Commerce (up 1.01 per cent) were the top gainers in the index.

Allahabad Bank (up 0.98 per cent), Central Bank of India (up 0.92 per cent), State Bank of India (up 0.81 per cent) and Bank of India (up 0.53 per cent) too were trading higher.

The Nifty PSU Bank index was trading 0.70 per cent up at 3086.95 around 12:45 pm.

Benchmark NSE Nifty50 index was down 59.70 points at 11,772.05 while the BSE Sensex was down 242.34 points at 39,359.29.

Among the 50 stocks in the Nifty index, 18 were trading in the green, while 32 were in the red.

Shares of YES Bank, Indiabulls Housing Finance, Vodafone Idea, SAIL, Tata Motors, PNB, SBI, Ashok Leyland, Dish TV India and Bank of Baroda were among the most traded shares on the NSE.