The Bank Nifty has tumbled over 8 per cent from its all-time high at 20,908 in just six trading sessions
The banking stocks continue to remain under selling pressure for the sixth trading session as asset quality remains a worry. A number of PSU banks reported sharp rise in NPAs in the recently concluded December quarter results.
Further, the RBI yesterday in its policy review meet left key rates unchanged as it preferred to wait for fresh economic data and the Union Budget before taking its next move.
The Bank Nifty has dropped to a low of 19,167, and is now down 1.1 per cent (216 points) at 19,167. The Bank Nifty has tumbled 8.3 per cent from its recent all-time high of 20,908 on 28 January, 2015.
The PSU Bank index has shed 1.8 per cent (72 points) at 3,853
Axis Bank is the major loser today, down 4.4 per cent at Rs. 561. Union Bank of India has slipped nearly 3 per cent to Rs. 200.
Allahabad Bank, Canara Bank, Indian Overseas Bank, Andhra Bank and SBI are down around 2 per cent each.
Punjab National Bank, ICICI Bank, Oriental Bank of Commerce, IDBI, Bank of India and Bank of Baroda are other notable losers
The banking stocks continue to remain under selling pressure for the sixth trading session as asset quality remains a worry. A number of PSU banks reported sharp rise in NPAs in the recently concluded December quarter results.
Further, the RBI yesterday in its policy review meet left key rates unchanged as it preferred to wait for fresh economic data and the Union Budget before taking its next move.
The Bank Nifty has dropped to a low of 19,167, and is now down 1.1 per cent (216 points) at 19,167. The Bank Nifty has tumbled 8.3 per cent from its recent all-time high of 20,908 on 28 January, 2015.
The PSU Bank index has shed 1.8 per cent (72 points) at 3,853
Axis Bank is the major loser today, down 4.4 per cent at Rs. 561. Union Bank of India has slipped nearly 3 per cent to Rs. 200.
Allahabad Bank, Canara Bank, Indian Overseas Bank, Andhra Bank and SBI are down around 2 per cent each.
Punjab National Bank, ICICI Bank, Oriental Bank of Commerce, IDBI, Bank of India and Bank of Baroda are other notable losers
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