At around 2.35 PM, Bank Nifty was trading at 34,658.65 down by 32.85 points or 0.09%. The index has touched an intraday high and low of 34,738.75 and 34,445.40 respectively.
SBI was the top laggard on the index plunging nearly 2% followed by ICICI Bank and IndusInd Bank diving by 1% and 0.7% respectively. Axis Bank was marginally down.
On the other hand, AU Small Finance Bank was the top gainer soaring by 2% followed by Federal Bank surging 1.9%.
Stocks like Kotak Bank, PNB and RBL Bank jumped by more than 1% each.
Index heavyweight HDFC Bank zoomed by 0.8%. Bandhan Bank was marginally up and IDFC First Bank traded flat.
This week, banking stocks were in focus as lenders acquire a certain amount of equity ownership in IBBIC Private Limited. The equity ownership of IBBIC is aimed at providing DLT solutions for the financial services sector.