Stock market update: Private banks plummet; Federal Bank falls 2%

NEW DELHI: Shares of private banks were in the red in Monday’s morning trade.

Shares of Federal Bank (down 2.36 per cent), RBL Bank (down 2.17 per cent), Yes Bank (down 1.91 per cent), IDFC Bank (down 1.54 per cent) and IndusInd Bank (down 1.53 per cent) were the top losers in the index.

Axis Bank (down 1.47 per cent), ICICI Bank (down 1.17 per cent), HDFC Bank (down 1.15 per cent), City Union Bank (down 0.88 per cent) and Kotak Mahindra Bank (down 0.5 per cent) too were trading in the red.

The Nifty Private Bank index was trading 1.24 per cent down at 17,511.45 around 09:27 am.

Benchmark NSE Nifty50 index was down 107.50 points at 12,119.15, while the BSE Sensex was 348.45 points at 41,116.16.

Among the 50 stocks in the Nifty index, 7 were trading in the green, while 42 were in the red.

Shares of YES Bank, Vodafone Idea, Bank of Baroda, Tata Motors, SBI, RIL, SAIL, Adani Ports SEZ, Indiabulls HousingFin and Zee Entertainment were among the most traded shares on the NSE.

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