Market Now: Private bank stocks in sync with PSU peers; ICICI Bank falls 1%

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NEW DELHI: Following their PSU peers, most of the private sector bank stocks were also declining in morning trade on Wednesday.

Shares of ICICI Bank (down 1.45 per cent), Axis Bank (down 1.18 per cent), Federal Bank (down 0.93 per cent) and YES Bank (down 0.91 per cent) declined up to 1 per cent, dragging the sectoral index down.

The Nifty Private Bank index was trading 0.80 per cent down at 13,946 around 10 am (IST).

IndusInd Bank (down 0.64 per cent), South Indian Bank (down 0.60 per cent), HDFC Bank (down 0.53 per cent) and Kotak Mahindra Bank (down 0.40 per cent) were also in the red in the private bank index.

IDFC Bank (up 0.60 per cent) and Karnataka Bank (up 0.21 per cent) were the two stocks in the index that were in the green around that time.

Equity benchmarks were in the red on selling in bank, financial, telecom and auto stocks.

Benchmark NSE Nifty50 index was down 44 points at 10,383.

Among the 50 stocks in the Nifty index, 15 were trading in the green, while 35 were in the red.

BSE Sensex was 132 points down at 33,724.

Adani Ports, Bharti Airtel, ICICI Bank and State Bank of India were among the top losers in the Sensex kitty of stocks.

Source: Economic Times