Stock market update: Private banks plummet; YES Bank slides 5%

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

Shares of YES BankNSE -7.81 % (down 5.11 per cent), IndusInd Bank (down 2.8 per cent), IDFC Bank (down 1.41 per cent), Federal Bank (down 0.89 per cent) and RBL Bank (down 0.8 per cent) were among the top losers in the index.

Axis Bank (down 0.69 per cent), ICICI Bank (down 0.42 per cent), HDFC Bank (down 0.38 per cent) and Kotak Mahindra Bank (down 0.26 per cent) too were trading with losses.

While City Union Bank (up 0.07 per cent) was the only gainer.

The Nifty Private Bank index was trading 0.81 per cent down at 16,673.25 around 09:30 am.

Benchmark NSE Nifty50 index was down 75.50 points at 11,970.3, while the BSE Sensex was 226.9 points at 40,828.79.

Among the 50 stocks in the Nifty index, 7 were trading in the green, while 43 were in the red.

Shares of Vodafone Idea, YES Bank, TV18 Broadcast, SBI, BHEL, Tata Motors, Indiabulls Housing, SAIL, Mishra Dhatu Nigam and Bank of Baroda were among the most traded shares on the NSE.

[“source=economictimes”]