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NEW DELHI: In line with their PSU peers, most private bank stocks too were under pressure in Monday’s trading session.

The Nifty Private Bank index was trading 0.83 per cent down at 15,811 around 11 am.

YES Bank (down 1.72 per cent), HDFC Bank (down 1.40 per cent) and ICICI Bank (down 1.02 per cent) were the top losers in the private bank index.

Shares of Federal Bank (down 0.90 per cent), South Indian Bank (down 0.83 per cent), RBL Bank (down 0.75 per cent), IndusInd Bank (down 0.39 per cent) and Axis Bank (down 0.39 per cent) were also in the red.

IDFC Bank (up 2.07 per cent), however, jumped over 2 per cent, while Kotak Mahindra Bank (up 0.02 per cent) was trading almost flat.

Equity benchmarks Sensex and Nifty50 were in the negative territory, tracking weakness in Asian stocks as plunging Turkish lira made investors rush to safe harbours, including the US dollar, Swiss franc and yen.

Strengthening global crude oil prices and falling rupee too dealt a blow to the sentiment.

The NSE Nifty50 index was down 59 points at 11,370, while the BSE Sensex was 207 points down at 37,663.

Among the 50 stocks in the Nifty index, 19 were trading in the green, while 31 were in the red.

Tech Mahindra, GAIL (India), Coal India, Sun Pharma and Cipla were among the top gainers, while Indiabulls Housing Finance, Vedanta, State Bank of India, BPCL and HPCL were among the top losers in the Nifty index.

© copyright — The Economic Times


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