Bank stocks including SBI lead Sensex lower


The benchmark S&P BSE Sensex was dragged lower on March 11 by banking stocks, including State Bank of India and HDFC Bank, and industrial counters, snapping two straight sessions of gains.

The Sensex fell 616.75 points, or 0.83%, to 73,502.64. While Power Grid and Tata Steel were the biggest losers on the gauge, sliding 2.41% and 2.38%, respectively, SBI fell 1.86% with sentiment in the stock likely hit after the Supreme Court rebuffed the bank’s plea for more time to provide details on the Electoral Bonds and directed it to furnish the required data by Tuesday. HDFC Bank slipped 1.33%, topping volumes.

Among other stocks, JM Financial fell 9.77% to ₹79.35 in the wake of curbs imposed last week by SEBI against the merchant banking unit accepting fresh debt mandates.

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