Bank shares fall up to 3.5% as RBI keeps rates unchanged; IDFC, IndusInd, ICICI Bank major losers

By: | Updated: December 5, 2018 6:25 PM

As Reserve Bank of India (RBI), in its 5th bi-monthly monetary policy review, kept the key rates unchanged, the shares of banks plunged up to 3.5 percent.

Share Market Live, Stock Market Latest news, Nifty Live, NSE live, BSE live, Live Market Update, Market Today, Indian Share Market Live, Indian Stock Market LiveThe BSE Sensex plunged 249.90 points, or 0.69 percent, to close at 35,884.41.

As Reserve Bank of India (RBI), in its 5th bi-monthly monetary policy review, kept the key rates unchanged, the shares of banks plunged up to 3.5 percent. The stock price of IDFC bank fell 3.46 percent, IndusInd bank 2 percent, ICICI bank 1.93 percent on the BSE today.

Similarly, Kotak Mahindra Bank shares plunged 1.39 percent, Axis Bank 1.30 percent and State Bank of India 0.74 percent resulting in the BSE Bankex ending the day 1 percent lower at 29,599.99. The BSE Private Bank Index dropped 0.95 percent to 10,534.67.

Also read: Share market HIGHLIGHTS: Sensex falls 250 pts, Nifty ends below 10,800 after RBI reiterates policy stance

Meanwhile, benchmark indices recorded losses for the second day in a row today as the RBI left the repo rate unchanged at 6.5 percent, while global markets wobbled on renewed concerns over the US-China trade dispute.

Also read: RBI Monetary Policy HIGHLIGHTS: RBI holds fire for now but signals rate cut in future

The BSE Sensex plunged 249.90 points, or 0.69 percent, to close at 35,884.41. Similarly, the broader NSE Nifty fell 84.55 points, or 0.74 percent, to close at 10,784.95.

The top gainers on BSE today include HUL, HDFC, HDFC Bank, Wipro, Reliance Industries and Adani Ports, surging up to 2.07 percent.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition