Market Now: ICICI Bank, Axis Bank drag Nifty Bank index down

NEW DELHI: Bank stocks ICICI Bank (down 0.92 per cent), Axis Bank (down 0.84 per cent), Federal Bank (down 0.78 per cent) and IndusInd Bank (down 0.47 per cent) were trading in the red in morning trade on Thursday, dragging the Nifty Bank index down.

The Nifty Bank index was trading 0.11 per cent down at 25,563 around 09:55 am (IST).

Stocks such as State Bank of India (down 0.35 per cent), Kotak Mahindra Bank (down 0.32 per cent), YES Bank (down 0.27 per cent) and Bank of Baroda (down 0.12 per cent) were also experiencing decline.

However, shares of HDFC Bank (up 0.67 per cent), IDFC Bank (up 0.65 per cent), Punjab National Bank (up 0.50 per cent) and Canara Bank (up 0.25 per cent) were trading up in the bank index around that time.

Benchmark NSE Nifty50 index was 5 points up at 10,449, while the BSE Sensex was 3 points down at 33,775.

Among the 50 stocks in the Nifty50 index, 32 were trading in the green, while 18 were in the red.

Shares of Hindalco, SAIL, Motherson Sumi, Punjab National Bank, DLF, Vedanta, YES Bank, ICICI Bank, Mahindra & Mahindra, Ashok Leyland, ITC and State Bank of India were among the most traded stocks on the National Stock Exchange.

In the Nifty 50 index, Sun Pharma, Hindalco, Bharat Petroleum Corporation, Hero MotoCorp, Zee Entertainment and Larsen & Toubro were among the top gainers.

However, Mahindra & Mahindra, Bharti Airtel, Infosys, ICICI Bank, Axis Bank and Bharti Infratel were among the top losers.

Original Article

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