INSUBCONTINENT EXCLUSIVE:
NEW DELHI: In line with PSU peers, shares of most private sector banks were also suffering losses during Wednesday's trade.
The Nifty
Private Bank index was trading 0.73 per cent down at 14,809 around 10:35 am with 8 stocks, out of total 10, declining in trade
Shares of South Indian Bank (down 2.02 per cent), RBL Bank (down 1.94 per cent), IDFC Bank (down 1.84 per cent) and ICICI Bank (down 1.66
per cent) were the top losers in the index.
Axis Bank (down 1.00 per cent), Kotak Mahindra Bank (down 0.75 per cent), Federal Bank (down
0.75 per cent) and IndusInd Bank (down 0.60 per cent) declined up to 1 per cent.
Meanwhile, YES Bank (up 0.12 per cent) and HDFC Bank (up
0.07 per cent) were the two stocks in the index that were marginally up around that time
Equity markets were down, tracking a weak trend in global markets amid fresh concerns of a possible China-US trade war.
Unabated capital
outflows by foreign funds and profit-booking by retail investors too dampened sentiments.
There was caution among investors ahead of the May
month derivatives expiry tomorrow.
Benchmark NSE Nifty50 index was down 55 points at 10,579, while the BSE Sensex was 150 points down at
Among the 50 stocks in the Nifty index, 13 were trading in the green, while 37 were in the red
Hindalco Industries, HPCL, ICICI Bank and BPCL were among top losers in the Nifty index.
