Share market update: Bank shares tumble; Federal Bank falls nearly 5%

image

NEW DELHI: Bank shares tumbled with the Nifty Bank index in the red in Monday’s trading session.

Shares of Federal Bank (down 4.72 per cent), IndusInd Bank (down 2.58 per cent), Axis Bank (down 1.67 per cent ) and Punjab National Bank (down 1.12 per cent) were the worst performers in the index.

ICICI Bank (down 0.96 per cent), Kotak Mahindra Bank (down 0.85 per cent) and State Bank of India (down 0.76 per cent) too were trading lower.

Nifty Bank index was trading 0.92 per cent down at 27,201.30 around 11:56 am on Monday.

Benchmark NSE Nifty50 index was down 91.35 points at 10,703.60 while the BSE Sensex was down 279.84 points at 35,730.

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

Shares of YES Bank, Infosys, Tata Motors, ICICI Bank, SAIL, Ashok Leyland, Indian Oil Corp, Vedanta , L&T Fin Holding, Bharti Infratel and Bank of Baroda were among the most traded shares on the NSE.

Source: Economic Times