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.
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.
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.
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.