At arounnd 1.15 PM, Nifty Bank was trading at 35,402.15 down 124.50 points or 0.35%, touching a low of 35,241.20 during intraday trade on Tuesday.
BSE Sensex was trading at 51,950.68 up 13.24 points or 0.03% and Nifty 50 at 15,577.05 up 5.75 points or 0.04%.
SBI rose 1.68% at Rs431.50 per piece. The Bank has reportedly revised India's real GDP projection for FY22 to 7.9% from 10.4% earlier. The upward bias to this number with hope of 1 crore vaccinations per day from Mid-July.
HDFC Bank was trading flat after making gains early on. ICICI Bank shed 1.5% while Axis Bank was also under pressure (down 0.65%).
Federal Bank,and Punjab National Bank dropped over 1.7% each.
PSU Bank's were also struggling with J&K Bank only in the green along with SBI. Nifty PSU Bank was trading at 2,415.70 down 10.60 points or 0.44%.
Jammu & Kashmir Bank (J&K Bank) rose 1.22% to Rs29.05 after the bank said its board will meet on Friday, 4 June 2021, to consider the proposal of capital infusion in the bank.
All the Private Bank's except HDFC Bank were in the red zone. Punjab & Sind Bank and UCO Bank dropped 3%.