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09/11/2010 00:00 AST
State Bank of India (SBI) plunged nearly five per cent in the early trade on the Bombay Stock Exchange on Tuesday, after it reported a 22.2 per cent decline in its second quarter net profit on Monday.
Reacting to the September quarter numbers, the shares of the country's largest lender slipped by 4.9 per cent to an early low of Rs 3,254.90 on the BSE, becoming the worst performer on the 30-share benchmark Sensex.
Similarly, the scrip lost 4.33 per cent to trade at Rs 3,276.60 on the National Stock Exchange.
Later, the shares were trading down by 2.65 per cent at Rs 3,332 on the BSE and lower by 2.65 per cent at Rs 3,334.35 on the NSE.
SBI posted a 22.2 per cent decline in its consolidated net profit at Rs 2,437.1 crore for the second quarter ended September 30, 2010 against Rs 3,133.1 crore in the same period last fiscal.
Among the other major banking stocks, private-sector lenders ICICI Bank and HDFC Bank were trading in the positive terrain with a gain of 0.53 per cent and 0.42 per cent, respectively, while the mortgage lender HDFC was down by 0.6 per cent on the BSE.
Meanwhile, the Sensex was trading firm at 20,921, up 68.62 points from the previous close.
The Hindu Business Line
| Ticker | Price | Volume |
|---|
| Index | Closing | Change |
|---|---|---|
| NIKKEI 225 | 36,581.76 | -251.51 (-0.68 |
| DAX | 18,699.40 | 181.01 (0.97 |
| S&P 500 | 5,626.02 | 30.26 (0.54 |
12/05/2025
Egypt's annual inflation rose to 13.5 percent in April from 13.1 percent the previous month, driven by higher prices across key sectors including healthcare, transport, and housing, official data sho
Arab News
12/05/2025
Jordan's exports to countries in the Greater Arab Free Trade Area rose 12.2 percent year on year to 515 million Jordanian dinars ($726 million) by the end of February, amid strong demand for key goo
Arab News
09/05/2025
US and Chinese officials meet this weekend in Geneva for their first formal talks aimed at resolving a grueling tit-for-tat tariff war that threatens hundreds of billions in trade and roiled global m
Asharq Al Awsat
09/05/2025
The "breakthrough" US-UK trade deal announced Thursday by President Donald Trump is the first agreement to be unveiled since he slapped steep tariffs on allies and adversaries alike on April 2.
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AFP
09/05/2025
The Federal Reserve held interest rates steady on Wednesday but said the risks of higher inflation and unemployment had risen, further clouding the US economic outlook as its policymakers grapple wit
Reuters
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