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With the global markets turning weak, bank stocks wilted under selling pressure today in India with the BSE bankex being the biggest loser among the sectoral indices.
All the 14 bank stocks forming the bankex were in the red, reflecting the widespread concern over the direction of the markets even as the crisis in Europe looks far from being resolved.
It was not as if the loss was restricted to the PSU banks as the major private sector banks — Axis Bank, ICICI Bank, HDFC Bank and YES Bank too joined the losers’ list.
State Bank shed Rs 17.45 to trade at Rs 1,895. Axis Bank , which lost Rs 21.55 at Rs 1,073, ICICI Bank which was down by Rs 17.70 at Rs 955.45 and YES Bank which shed Rs 8 at Rs 346.40 were the other major losers.
Bank of India , Bank of Baroda,Canara Bank, IDBI and Union Bank all made it to the losers’ list but their losses were only in single digits. HDFC Bank was down by just 50 paise at Rs 597.
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