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Market Now: Private bank stocks in sync with PSU peers; ICICI Bank, Axis Bank fall 2%.

Date: 12-04-2018
Subject: Market Now: Private bank stocks in sync with PSU peers; ICICI Bank, Axis Bank fall 2%
NEW DELHI: In line with PSU bank stocks, most of the private bank stocks were also declining in Wednesday's trade. 

The Nifty Private Bank was trading 0.75 per cent down at 14,156 around 10:35 am (IST) with ICICI BankNSE 1.14 % (down 1.73 per cent) and Axis BankNSE -0.20 % (down 1.62 per cent) falling almost 2 per cent. 

Shares of South Indian Bank (down 1.56 per cent), IDFC Bank (down 1.41 per cent), YES BankNSE -0.34 % (down 1.17 per cent), HDFC BankNSE -0.23 % (down 0.30 per cent) and IndusInd BankNSE 0.36 % (down 0.26 per cent) were also seen under pressure. 

Meanwhile, Federal BankNSE -0.61 % (up 1.14 per cent) and RBL Bank (up 1.01 per cent) were the stocks in the Nifty Private Bank stocks that were trading with gains around that time. 

Selling in bank, financial, oil, FMCG and auto stocks dragged the benchmark indices a little lower. 

The NSE Nifty50 index was down 30 points at 10,372, while the BSE Sensex was 52 points up at 33,828. 

Among the 50 stocks in the Nifty index, 19 were trading in the green, while 31 were in the red. 

Vedanta, HCL Technologies, ONGC, Tata Consultancy Services and Hindalco Industries were among the top gainers in the Nifty index. 

On the other hand, HPCL, Indian Oil Corporation, BPCL, Adani Ports SEZ and State Bank of India were among the top losers in the Nifty pack of stocks. 

Source: economictimes.indiatimes.com

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