Banks buzzing again; PNB, BOI, HDFC Bank near 52-wk highs

ALSO READ See what other experts are saying about markets See what FIIs are saying about the markets See what Udayan Mukherjee is saying about the markets

During the week ended September 15 the BSE Bankex buzzed once again and finally closed above the psychological 12K level on Friday. However, one fact that seem to be going unnoticed is eight banking stocks are within the kissing distance of their 52-week highs.

 

Stocks like PNB , Bank of India , HDFC Bank , Bank of Baroda , ICICI Bank , Federal Bank , SBI and City Union Bank are just 0.56%-9.33% away from their yearly peaks.

 

Meanwhile, 11 banks, most of them PSUs, gained more than 10% in the last five trading sessions indicating that investors are once again attracted towards the banking space.

 

Company	Gains (%) for week endded  Sept 15	Closing Price (Rs) 15/09/2006
Corporation Bank	15.58	358.25
Federal Bank	15.37	209.80
Union Bank (I)	14.54	127.65
Bank of India	13.79	153.10
Indian Overseas	13.56	105.50
Oriental Bank	13.19	226.50
Allahabad Bank	12.72	81.10
I D B I	12.71	70.05
United West.Bank	12.24	24.75
Bank of Baroda	11.49	268.20
St Bk of Travanc	10.05	3375.25

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

To read experts' views on bank stocks, click on page 2