Share market update: Bank shares in the red ahead of RBI policy outcome

NEW DELHI: Bank shares were trading in the red with the Nifty Bank index down 0.42 per cent at 26,582.4 on Wednesday ahead of the RBI policy outcome due today.

Shares of IDFC Bank (down 2.69 per cent), Federal Bank (down 1.35 per cent), Kotak Mahindra Bank (down 1.25 per cent) and IndusInd Bank (down 1.13 per cent) were the top losers in the index.

ICICI Bank (down 1.05 per cent), Bank of Baroda (down 0.65 per cent) and YES Bank (down 0.54 per cent) too appeared among the top laggards.

Benchmark NSE Nifty50 index was down 79.30 points at 10,790.2 while BSE Sensex was down 222.91 points at 35,911.4 around 11:44 am.

Among the 50 stocks in the Nifty index, 7 were trading in the green, while 43 were in the red.

Shares of YES Bank, Ashok Leyland, Idea Cellular, Sun Pharma, BHEL, Tata Motors, Indian Oil Corp, SAIL, Hindalco Industries, Vedanta, ITC and Bank of Baroda were among the most traded shares on the National Stock Exchange.