Bank of India, Canara Bank, Dena Bank, Corporation Bank and Andhra Bank are among the lenders that received capital infusion from the government.
Nirmala Sitharaman said Nirav Modi may have been able to run away from the country, but the government is taking action against him, and claimed that it will "surely nab him".
Bharti Airtel , RCom and Tata Communications ended down between 0.1-1%.
12 out of 21 public sector banks reported declines in their loan books in the last financial year against seven such banks in 2015-16 and none in 2013-14.
Many from this small lender have made it to other bank boards over the past 5 years
Broader markers outperformed their larger peers.
Government to infuse funds in cash-strapped banks.
The S&P BSE Sensex closed 318 points at 24,455 and the Nifty50 shed 99 points to end at 7,438.
Ajit Mishra, vice president, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
Oil tanked to a 7-year low as OPEC decided to maintain production.
Metal stocks also had a good session, with JSW Steel zooming by 7%, and Tata Steel and Nalco gaining about 3% each.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
Participants are keenly waiting for the January IIP.
The S&P BSE Sensex ended 190 points up at 23,382.
Bank CFOs may meet next week to discuss minimum public shareholding and takeover rule issues.
Some lenders in talks with LIC for pvt placement
Analysts say there is still no visibility of earnings improvement.
The benchmark BSE Sensex reclaimed the 28,000 mark, spurting by 409 points or 1.4% at 28,114 and Nifty settled above the 8,500 mark at 8,532, gains of 111 points.
HDFC, TCS, RIL, ITC and ICICI Bank dragged the Sensex by over 100 points.
Natco Pharma, Wockhardt and Marksans have rallied between 50 and 70 per cent in the year till date.
The Sensex closed higher by 170 points at 26,128 and the Nifty rose 59 points to end at 7,943.
Despite high exposure of public sector banks to power, iron and steel sectors, analysts remain in a wait-and-watch mode.
United Progressive Alliance-led government proposed lenders as insurance brokers; new FM not too keen, say insurers.
In a message to public sector banks (PSBs) that only performers will survive, the government, in an unprecedented move, has decided to allocate capital to only nine PSBs.
SBI, PNB, Bank of Baroda, Canara Bank, Dena Bank, Central Bank of India ended down 3%-12% each.
Sun Pharma was the top gainer after SPARC received Sebi nod to raise up to Rs.250 crore through a rights issue
BSE Bankex and Telecom indices led the fall.
Among the private banking majors ICICI Bank and HDFC Bank were down 0.2%-0.5% each.
On Tuesday, Finance Minister P Chidambaram had more than adequately made clear that the government would be allocating Rs 14,000 crore through Budget, the Financial Services Secretary said.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
Weak monsoon forecast rekindled fears of higher inflation.
'Four weeks have passed after the scam was exposed, yet no big guy has been arrested.' 'This gives the impression that he wants to be soft on the biggies.'
It is not often that Goswami's Nation-Wants-to-Know shows become material evidence in a murder trial no less. Nor was it something CBI Special Judge J C Jagdale was wildly enthused about. It had to be done because as he put it to CBI Special Public Prosecutor Kavita Patil caustically: "Your witnesses gave interviews to channels about a serious crime."
The 30-share Sensex closed up 34 points at 27,831 and the 50-share Nifty ended up 15 points at 8,356.
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
SBI remains a favourite of most brokerages in the PSB segment.
Markets extended gains led by financials and capital goods shares coupled with a rebound in IT shares.
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SpiceJet's ex promoter Ajay Singh is trying hard to pump in huge money into the airline.
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
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