Nifty trades below 24,950 mark; PSU Bank shares climb

The key equity benchmarks traded with modest losses in morning trade, as investors remained cautious despite easing crude oil prices and renewed foreign fund inflows. Market participants also assessed the ongoing Q2 FY27 corporate earnings announcements for cues on the earnings outlook. The Nifty slipped below the 24,950 mark.

PSU Bank shares advanced after declining in the past trading session.

At 10:25 IST, the barometer index, the S&P BSE Sensex declined 201.45 points or 0.27% to 80,797.95. The Nifty 50 index shed 64.60 points or 0.27% to 24,920.70.

In the broader market, the BSE 150 MidCap Index declined 0.09% and the BSE 250 SmallCap Index fell 0.22%.

The market breadth was negative. On the BSE, 1,590 shares rose and 2,194 shares fell. A total of 261 shares were unchanged.

Buzzing Index:

The Nifty PSU Bank index jumped 2.11% to 8,766.55. The index declined 0.32% in the past trading session.

Bank of India (up 2.99%), State Bank of India (up 2.94%), Punjab National Bank (up 2.58%), Indian Bank (up 2.57%), Union Bank of India (up 2.47%), Canara Bank (up 1.87%), Bank of Baroda (up 1.61%), Central Bank of India (up 0.65%), Bank of Maharashtra (up 0.42%) and Indian Overseas Bank (up 0.26%) surged.

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