Nifty Bank settles in the red; ICICI Bank plunges 3%

NEW DELHI: Losses in ICICI Bank (down 2.77 per cent), Bank of Baroda (down 2.73 per cent), IDFC Bank (down 2.37 per cent) and Punjab National Bank (down 2.16 per cent) kept Nifty Bank index in the negative territory on Friday.

The Nifty Bank index settled 0.76 per cent down at 25,876.

State Bank of India (down 1.28 per cent), RBL Bank (down 1.28 per cent), Axis Bank (down 0.82 per cent), HDFC Bank (down 0.78 per cent) and Federal Bank (down 0.12 per cent) also closed the day with losses.

However, Kotak Mahindra Bank (up 2.07 per cent) and IndusInd Bank (up 1.08 per cent) clocked decent gains.

YES Bank (up 0.20 per cent) too finished with mild gains.

Equity benchmarks Sensex and Nifty finished Friday's trade nearly 1 per cent down on across the board selling, with FMCG as an exception.

The BSE Sensex lost 301 points, or 0.86 per cent, to settle at 34,848, with only 7 stocks in the green and 24 in the red.

The Nifty index suffered a fall of 86 points, or 0.81 per cent, finishing at 10,596. Among the 50 stocks in the index, 14 settled in the green and 36 in the red.

Bajaj Finance, Tech Mahindra, Bajaj Finserv, Hindustan Unilever, Kotak Mahindra Bank, IndusInd Bank and ITC were the top gainers in the Nifty pack of stocks.

On the contrary, Cipla, Wipro, Indiabulls Housing Finance, Sun Pharma, Tata Motors and Tata Steel settled as the top losers in the Nifty index.

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