Bank stocks plunge
Mumbai: Ahead of the quarterly monetary policy review of RBI, banking stocks on Tuesday tanked on the Bombay Stock Exchange (BSE) led by ICICI Bank which fell 3 percent, as the key policy rates remained unchanged.
Shares of the largest private sector lender ICICI Bank dropped 2.76 percent to a low of Rs 763.
Banking stocks were the hardest hit in morning trade today and the 18-share index fell 1.63 percent to a low of 8,193.07 points.
After a weak opening on the exchanges, shares of the State Bank of India fell to a low of Rs 1,680.10, down nearly 2 percent over previous closing.
HDFC Bank fell 2 percent to a low of Rs 1,406 and PNB dipped nearly 2 percent to Rs 714 on the BSE.
Other major losers on the index include Axis Bank (down 1.81 percent), Bank of India (down 1.97 percent), Canara Bank (down 0.93 percent), IOB (down 0.83 percent), Karnataka Bank (down 1.41 percent), Kotak Bank (down 0.03 percent), Oriental Bank (down 0.33 percent).
RBI in its quarterly monetary policy today did not tinker with the key rates.
Some of the scrips which defied the trend include, IDBI Bank (up 2.79 percent), Indusind Bank (up 0.33 percent), Union Bank (up 0.45 percent), Allahabad Bank (up 0.17 percent), Bank of Baroda (up 0.06 percent), Federal Bank (up 1.34 percent) and Yes Bank (up 0.12 percent).
More from India
More from World
More from Sports
More from Entertaiment
- Munich attack: 18-year-old German-Iranian gunman kills 9 at shopping mall
- DNA: Why are politicians and media ignoring the patriotic residents of Gurez Valley?
- DNA: Why are politicians and media ignoring the patriotic residents of Gurez Valley? Part II
- DNA: Why are politicians and media ignoring the patriotic residents of Gurez Valley? Part III
- DNA: Analyzing the real problems of patriotic Kashmir's residents
- Gwen Stefani auditioned for 'Mr & Mrs Smith'
- WATCH: Fizz and fire! Mustafizur Rahman demolishes opposition on T20 Blast debut
- Burhan Wani protest: Curfew lifted from four districts of Kashmir Valley, parts of Srinagar
- MH370 pilot flew similar doomed route on home simulator: Report
- One Direction's Liam Payne ready to launch solo career