Federal Bank top loser in Nifty Private Bank index, while Yes Bank stock gains

Shares of Federal Bank fell over 4.8% and was the top loser in the index. IndusInd Bank dropped 2%, and ICICI Bank, Axis Bank, and South Indian Bank were down 1% each.

Jan 14, 2019 09:01 IST India Infoline News Service

The Nifty Private Bank index dropped ~1% to 15,361 in the last hour of trading session.

Shares of Federal Bank fell over 4.8% and was the top loser in the index. IndusInd Bank dropped 2%, and ICICI Bank, Axis Bank, and South Indian Bank were down 1%.

On the flip side, Yes Bank extended gains and was up by 6% followed by IDFC Bank, and RBL Bank.

Equity indices traded under pressure as BSE Sensex slipped 164 points to 35,846, and Nifty50 was down 56 points at 10,733.

Shares of Yes Bank gained 6% on Monday after the bank appointed Brahm Dutt as its non-executive part-time Chairman of the board.

Shares of Federal Bank fell 5% after Ganesh Sankaran, Executive Director, announced that he will step down with effect from February 15, 2019.

Related Story