Indian Tax Solution

Share market update: Bank shares drag; Bank of Baroda dips over 1%

NEW DELHI: Bank shares were trading in the red with the Nifty Bank index down 0.05 per cent at 27,378.90 around 11:40 am on Wednesday.

Shares of Bank of Baroda (down 1.22 per cent), Kotak Mahindra Bank (down 0.51 per cent), HDFC Bank (down 0.48 per cent) and Axis Bank (down 0.33 per cent) were the worst performers in the index.

IndusInd Bank (down 0.25 per cent), RBL Bank (down 0.17 per cent) and Punjab National Bank (down 0.13 per cent) too were trading lower.

Benchmark NSE Nifty50 index was down 33.15 points at 10,876.95 while the BSE Sensex was down 87.16 points at 36,167.41.

Among the 50 stocks in the Nifty index, 16 were trading in the green, while 34 were in the red.

Shares of Ashok Leyland, YES Bank, SBI, Bank of Baroda, ONGC, Vedanta, NMDC, ICICI Bank, Tata Motors, M&M, SAIL and Axis Bank were among the most traded shares on the NSE.

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Editor's Column

Huge relief for manufacturers -No GST payments on advances received for supplying goods

On Wednesday, the Central Government spared businesses from paying GST on advance amounts they have received for goods which are to be supplied later in the future. The step was aimed to help clear the confusion over tax liabiliti ...