Banking sector stocks: IndusInd Bank gains 3.18%, Axis Bank up 0.55%; HDFC Bank drops 1.38%, Kotak Bank down 1.23%

The banking sector showed varied performance in early trading on January 13, 2025, as stocks exhibited mixed trends. While IndusInd Bank emerged as the top gainer, advancing by 3.18% to ₹967.45, several other prominent banking stocks experienced declines.

Key Gainers:

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  • IndusInd Bank surged 3.18%, trading at ₹967.45, benefiting from positive sentiment in the private banking space.
  • Axis Bank edged higher by 0.55% to ₹1,046.45.
  • Union Bank of India saw a modest rise of 0.56%, trading at ₹104.20.

Key Decliners:

  • HDFC Bank dropped by 1.38%, trading at ₹1,633.85, amidst broader selling pressure in the sector.
  • Kotak Mahindra Bank fell 1.23% to ₹1,734.55.
  • State Bank of India (SBI) slipped by 0.52%, trading at ₹739.40.
  • ICICI Bank declined 0.74%, trading at ₹1,240.65.

Public Sector Banks:

Public sector banks exhibited subdued movement with marginal declines. Punjab National Bank (PNB) fell 0.61% to ₹98.04, while Bank of Baroda dipped by 0.89%, trading at ₹223.40. Canara Bank dropped 1.30% to ₹91.62.

The mixed movement in the banking sector reflects ongoing market volatility, with a focus on earnings performance and sector-specific developments driving investor sentiment.

Disclaimer: The above data is for informational purposes only and does not constitute financial advice. Investors are advised to consult their financial advisors before making investment decisions.