home page



Daily News

Daily Rates


Book Store




    stock markets                                                                                    

BSE BANKEX-Banking Index
Commentaries: July-August 2009

To know more about BSE BANKEX.... Click here

For the week ended August 28, 2009, both BSE 30-share Sensex and NSE Nifty gained 4.5% during the week. Fund flows, gain in global stock markets improved market sentiments. The Foreign Institutional Funds purchased worth Rs 20.76 billion and the Domestic Institutional Funds were net buyers of Rs13.88bn during the week

BSE Banking Index Bankex gained 1.4%. The top gainers among bank stocks were Oriental Bank of Commerce which was up by 7.9%. Bank of India gained 6.6%. Other major gainers were- Axis Bank (+4.1%), IOB (+3.1%), Karnataka Bank ( +3.1%).

Most of the bank shares maintained their levels during the week. Federal Bank & Allahabad Bank were the two banks which lost more than 1% during the week.

For the week ended August 21, 2009, BSE Sensex closed lower by 1.2% and Nifty also lost 1.1% during the week. Doubts about economic recovery in view of looming drought conditions adversely affected the market sentiments

The BSE Banking Index showed no movement during the week. Yes Bank continued to top gainer with rise of 9.2%. Other major gainers in bank stocks were- Allahabad Bank (+5.6%), HDFC Bank (+2.7%), Andhra Bank (+ 2.1%) and Axis Bank (+ 1.4%).

Major loser was Bank of India (-4.2%). While Canara Bank, Karnataka Bank & Federal Bank were down by 3.7%

For the week ended August 14, 2009, the BSE Sensex gained 1.7% and NSE Nifty went up by 2.2% during the week. Despite the looming drought and swine-flu, market welcomed the draft of the new Direct Tax Code, especially the scrapping of the STT. Ben Bernanke’s statement that the US economy appears to be “levelling out” and hopes of global economic recovery helped the market.

The BSE Banking Index, Bankex was up by 2.2%. The top gainers in bank shares were Yes Bank up by 8.7% and Axis Bank up by over 7%. Other gainers were PNB (+ 4.4%), Kotak Mahindra Bank (+ 3.6%), and SBI (+ 3.3%).

For the week ended August 7, 2009, the NSE Nifty and BSE Sensex closed the week lower by 3.3%. Concerns about monsoon weak trends at Asian markets and profit booking led to decline in the stocks.

The BSE Banking Index, Bankex was down 4.2%. The top loser was Axis Bank which declined by 11.2%. Other major losers were Yes Bank (-) 8.6%, HDFC Bank (-) 7.3%, Canara Bank (-) 6.5%) & Andhra Bank (-) 6.4%. However, Kotak Mahindra Bank bucked the trend and gained 8.6% during the week

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.

For the week ended July 24, 2009, BSE Sensex rose 4.3% and NSE Nifty rose 4.4% during the week. The Foreign Institutional Investors bought stocks worth Rs14.53bn during the week. Better than expected earnings from corporates and revival of monsoon were major booster for the markets.

The BSE Banking Index spiked by 2.6%. Many banks during the last fortnight have announced results for the quarter ended June 30, 2009, which has led to lot of activity in bank stocks. The top gainer was Yes Bank, which was up by over 11% during the week. Other major gainers were- Allahabad Bank (10.5%), IOB (6.4%), Federal Bank (6.4%) , Andhra Bank (6.2%) . However the top loser was Union Bank of India, which lost 2.5% during the week.

For the week ended July 17, 2009, Better than expected results from U.S. firms, encouraging comments by the Finance Minister on rapid economic recovery, a roadmap on disinvestment, Positive trade in global markets and heavy institutional buying - mainly by foreign investors - pushed Indian shares higher.

BSE stocks ended the week with a 9.2% gain. On the National Stock Exchange, the 50-stock S&P CNX Nifty index rose 3.4% to end at 4,374.95.

The BSE Banking Index was up 11%. The top gainer in the banking was ICICI Bank, which went up by 18.1%. Other major gainers were- Kotak Mahindra Bank (15.6%), Axis Bank (15.3%), Yes Bank (12.3%) and PNB (12.2%). HDFC Bank also advanced 4.2% during the week.

For the week ended July 10, 2009, The Sensex lost 9.45% and the Nifty ended 9.50% lower. Among the sectors, the BSE Realty sector was the largest loser ending 17.16% lower and was followed by the BSE Bankex, which lost 13.47%.

The markets stayed highly volatile throughout the week, due to disappointment from the Indian Union Budget 2009-10 and sustained pull out by foreign institutional investors (FIIs) on increased possibility of rating downgrades.

The top losers in the banking sector were ICICI Bank (- 16.7%), Axis Bank (- 15.5%), SBI (-14.7%), OBC (-14.4%), Kotak Mahindra Bank (-14.2%), Yes Bank (-9.9%) and HDFC Bank (-9%).

Among the American Depository Receipts (ADRs), ICICI Bank ended the week as the biggest loser, shedding as much as $2.12 billion in its market capitalisation. The second major loser was HDFC Bank, whose market capitalisation dropped by $1.43 billion.

India’s inflation, fell for the fourth consecutive week. The annual, point-to-point inflation stood at (-)1.55% in the week ended June 27, 2009 compared to (-)1.30% in the previous week.

For the week ended July 3, 2009, The BSE's banking sector index, Bankex gained by 2.1%. The top gainers in the banking sector were Union Bank of India (8.9%), Axis Bank (6.8%), PNB (6%), Allahabad Bank (4%), SBI (3.5%).

During the week, the market was cautious ahead of the Union Budget. Indian Economic survey failed to push the market. BSE Sensex gained 1% and the NSE Nifty rose 1.1% during the week.

The annual rate of inflation stood at -1.30% in the week ended June 20, 2009 as compared to -1.14% in the week ended June 13, 2009.

Click here for latest Bankex commentary

Click here for Bankex commentaries for Sept-Oct 2009

Click here for Bankex commentaries for May-June 2009

Click here for Bankex commentaries for April 2009

Click here for Bankex commentaries for March 2009

Click Here For Latest Bank Results

Click Here For NSE Live Stock Quotes

Click Here For Guide to Stock/Capital Market

Click Here For Global Stock Market Index

Click Here For Directory of Banks

Click Here For Bank Holidays

about us
| contact us | advertise
| Terms of use | Disclaimer

copyright Banknet India  All rights reserved worldwide.