At around 12.13 pm, Bank Nifty is trading at 32,647.65 down by 224.55 points or 0.68%. The index has touched an intraday high and low 32,747.70 and 32,402.70 respectively.
Kotak Bank, Axis Bank and IndusInd Bank were top underperformers on the index plunging nearly 2% each. ICICI Bank dived by 1.4%, while AU Small Finance Bank and IDFC First Bank slipped by 1% and 0.5%. Bandhan Bank was marginally down.
On the positive front, PNB was the top gainer soaring by 7.6% followed by Federal Bank and RBL Bank surging by 2.2% and 1.1% respectively. SBI climbed by 0.8%.
However, heavyweight HDFC Bank traded on a flat note.
Nifty PSU Bank skyrocketed by 3.79%, while Nifty Private Bank nosedived by 0.9%.
Maintaining below 3.5 lakh active cases mark, India registered about 3,48,421 new Covid cases, however, recorded the highest Covid death count of 4,205 in the last 24 hours. The country's total tally comes at 2,33,40,938 cases along with 1,93,82,642 recoveries and a death toll of 2,54,197.