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Aided by the recovery in key bank stocks like SBI, BoB and PNB, the CNX Bank Nifty was trading in the green with 9 of the 12 Bank Nifty stocks trading in the positive territory after nearly 100 minutes into trading this morning but not before witnessing a steep value erosion.
For SBI, it was a major recovery as the stock came close to breaching its 52-week low before pulling back.
The BoB s tock was up by ₹12.45 at ₹543.45 but it had hit a low of ₹520.45 before recovering.
SBI came close to its 52-week low of ₹1,452.70 when it fell to ₹1,466.80 in today’s morning trade. But the stock pulled back strongly to move up to ₹1,514.90, a gain of ₹26.55.
PNB was another major gainer up by ₹8.40 to trade at ₹558. This stock also recovered strongly after falling to a low of ₹535.
The losers were HDFC Bank down by 80 paise at ₹625.70, ICICI Bank that was down by ₹1.60 at ₹961.90 and Axis Bank that shed ₹3.90 to trade at ₹1,120.
The Bank Nifty , which touched a low of 9944 points, has recovered to 10,128.85 points, a gain of 26.75 points.
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