Losses in ICICI Bank Took the Nifty Private Bank Index Down
On Friday, it was observed that the losses in ICICI Bank, YES Bank, IDFC Bank and IndusInd Bank weighed on Nifty Private Bank index in morning session.
During the morning trading session, the Nifty Private Bank was trading 0.44 per cent down at 15,863. Shares of South Indian Bank and HDFC Bank too were in the red.
On the other hand, RBL Bank, Federal Bank, Axis Bank and Kotak Mahindra Bank were in the green.
Weak global cues after US-China trade talks concluded without any major breakthrough and rupee’s continuous fall hit sentiment at home.
Benchmark NSE Nifty50 index was down 24 points at 11,558, while the BSE Sensex was 64 points down at 38,273.
Out of 50 stocks in the Nifty index, 19 were trading in the green, while 31 were in the red.
The top gainers of the Nifty index were UPL, Power Grid Corporation of India, Grasim Industries, Coal India and Bajaj Finance, while ICICI Bank, Cipla, Titan Compan, Sun Pharma and Hindalco Industries were among the top losers in the Nifty index.