The Nifty Bank index declined 2% on Monday amid heavy selling pressure in both private and PSU banks.
Shares of Yes Bank
, IndusInd Bank
, ICICI Bank
, IDFC First Bank
, and Axis Bank
were leading the index’s fall.
Shares of Yes Bank and IndusInd Bank, which declined 6% and 4% respectively, were leading the index’s fall. Shares of PNB, IDFC First Bank, ICICI Bank, Axis Bank, Federal Bank, and Bank of Baroda also contributed to the fall, declining 2% each. HDCF Bank and Kotak Bank also declined 1% each.
Meanwhile, equity benchmark indices were trading lower on Monday with the Sensex declining 390 points at 38,750 levels. The Nifty slumped 127 points to trade at 11,625 levels.
Besides, on the currency front, the Indian rupee depreciated to 53 paise to trade at day’s low level of 69.88 against the dollar compared to its previous close of 69.35/$ on the back of increased crude oil prices in global markets.