Indian bank stocks show widest exchange price gap in decades
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Listen to this article in summarized format IndusInd Bank Ltd. ended at 1,002.9 rupees on the National Stock Exchange of India Ltd. after the 20-minute auction window closed, while falling more than 3% on the BSE Ltd. to 970 rupees. The gap of nearly 33 rupees was the widest in more than two decades. Large discrepancies in closing values were also seen in AU Small Finance Bank Ltd., IDFC First Bank Ltd., and Federal Bank Ltd. The BSE Bankex gauge at one point during the auction indicated a drop of 3.3% before partially recovering to end 1.7% lower. Some smaller banks failed to rebound amid thin liquidity and the monthly expiry of the 14-member bank index. On Friday, the gauge jumped 1% at close. “I trade multiple markets globally and haven’t seen such a dislocation where the same stock closes with as much as a 3% gap on different exchanges,” Mayank Bansal, a Dubai-based hedge fund trader said. One reason such gaps can persist is that during the auction window there is no reliable model for estimating where stocks on the NSE and BSE will close. “This makes pure arbitrage impossible,” said Varun Khandelwal, founder of Gurugram-based Bullero Capital, a proprietary trading firm. “Traders and other market participants are losing confidence — this kind of volatility may make them avoid this market,” Karthik P, a partner at Karna Stock Broking LLP said. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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