Bank Nifty wilts

With the RBI Governor Raguram Rajan leaving the key rates unchanged, some of the bank stocks came under pressure.

However, while the Bank Nifty was down by about 78 points, the impact on the stocks was not very severe and of the 12 stocks forming the index, the advance-decline ratio was split evenly at 6:6.

Axis Bank was the top loser, down by ₹6.30 or 1.11 per cent to trade at ₹562.75. It was the only bank stock whose loss was more than 1 per cent. IndusInd Bank and ICICI Bank shares shed less than one per cent. IndusInd was trading at ₹908.60, a loss of ₹6.35 or 0.69 per cent and ICICI Bank was trading at ₹318.40, a loss of ₹2.85 or 0.89 per cent.

SBI was trading a shade lower at ₹273.20, down by ₹1.45. Yes Bank and HDFC Bank were also down but only marginally.

The stocks in the green were PNB, Federal Bank, BoB, Kotak Mahindra, BoI and Canara Bank. BoI gained ₹2.50 to trade at ₹208.50, PNB was up by ₹1.50 at ₹150.15, Federal Bank was trading higher by ₹1.30 at ₹131.50, BoB gained ₹1.35 at ₹169.85 and Kotak Mahindra Bank was up by ₹5.10 at ₹1402.70.

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