New Delhi: Stock markets opened in negative territory on Monday with the Nifty slipping below 10,900 level.
At 9.22 am, the BSE Sensex was down 56.01 points or 0.15 percent to 36,171.13. Similarly the NSE Nifty was down 51.35 points or 0.47 percent to 10,879.10.
Banking stocks took a major hit with Kotak Bank, Yes Bank, and IndusInd Bank falling the most in the sensex pack by upto 7.58 percent. The Reserve Bank on Friday restrained Bandhan Bank from opening new branches and also ordered freezing of remuneration of its CEO Chandra Shekhar Ghosh for not meeting the licensing conditions.
Major losers in Nifty included Kotak bank, India Bulls housing finance, IndusInd bank, Ultracemco and Tatasteel.