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Banking stocks open weak, HDFC falls over 1%

Shares of HDFC declined 1.33 per cent to touch an early low of Rs 718 per piece on the Bombay Stock Exchange, landing last amongst the 30-Sensex companies.

twitter-logoPTI | September 28, 2010 | Updated 11:24 IST

With mortgage lender HDFC plunging over one per cent, financial stocks led the weakness in the broader market in the early morning trade on Tuesday.

Shares of HDFC declined 1.33 per cent to touch an early low of Rs 718 per piece on the Bombay Stock Exchange, landing last amongst the 30-Sensex companies.

Private-sector lender ICICI Bank also slipped 0.99 per cent, at Rs 1,103, from the previous close. Similarly, shares of HDFC Bank fell as much as 0.73 per cent to Rs 2,421 per share in the morning trade.

The talespin in the stocks led to the banking index on the BSE emerging as the worst performer among the 13 sectoral indices, with a loss of 7.22 points at 13,911.90.

Shares of the country's largest bank State Bank of India, however, supported the broader market by hitting a new high of Rs 3,208 per scrip, with a gain of 0.88 per cent.

Meanwhile, the broader gauge Sensex was trading flat at 20,131.08 points in the opening trade.

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