Most of
the PSU bank stocks were trading in the negative zone in morning trade on
Tuesday.
The Nifty PSU Bank index was trading 1.32 per cent down at 3,126 around 09:50 am (IST) with all components in the red.
Shares of Punjab National BankBSE -7.15 % (down 6.74 per cent) were the top losers after the bank said that the amount of fraudulent transactions could be Rs 1,300 crore more than the current estimate of about Rs 11,400 crore
Domestic markets opened on a higher note amid positive
trading in other Asian markets ahead of the US Fed Chair Jerome Powell's
much-anticipated first congressional testimony later in the day.
However,
markets pared some gains on selling in bank and financial stocks.
Benchmark
NSE Nifty50 index was up 16 points at 10,599, while the BSE Sensex was 54
points up at 34,500.
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