Nifty Bank under pressure as heavyweight Kotak Bank, HDFC Bank, BoB weighs; Nifty PSU Bank holds steady

The Nifty Bank index has touched an intraday high and low of 35,680.85 and 34,976 respectively.

Feb 23, 2021 02:02 IST India Infoline News Service

Banking stocks were under pressure as heavyweights HDFC Bank and Kotak Bank witnessed huge selloff. However, the majority of PSU Bank stocks hold steady compared to private lenders.

At around 2.19 pm, Nifty Bank was trading at 35,195.60 down by 61.60 points or 0.17%. The index has touched an intraday high and low of 35,680.85 and 34,976 respectively.

Kotak Bank was the top underperformer tumbling by 4% followed by Bank of Baroda plunging 2% and HDFC Bank diving over 1%. These three stocks were the only ones in the red.

Gainers on Nifty Bank had Federal Bank in the lead surging by 3% followed by IndusInd Bank up 2.5% and SBI soaring by 2%.

Stocks like PNB, IDFC First Bank, ICICI Bank and RBL Bank were trading higher by around 1% each.

Bandhan Bank and Axis Bank climbed marginally.

Nifty PSU Bank was trading at 2,411.85 up 0.5%, on the contrary, Nifty Private Bank was down by 0.3% and trading at 18,683.55. 

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