Down in IndusInd shares, private banks under pressure

In the Thursday trading session, the trading of the shares of private sector banks was low. Shares of different private banks like IndusInd Bank (2.25 percent down), Axis Bank (1.69 percent down), Federal Bank with 1.03 percent down, and Kotak Mahindra Bank with 1.19 percent down were the worst performers in the index. Other banks like ICICI bank with 0.85 percent decline, YES Bank with 0.75 percent down, and HDFC Bank (0.20 percent down) were also with losses. By Thursday afternoon, Nifty Private Bank index was trading down by 0.95 percent at 15,516.50.

Benchmark NSE Nifty 50 index was 42.45 points down at 10,812.70 whereas the BSE Sensex was 123.66 points down at 36,089.25. Among the total 50 stocks in the Nifty index, 17 were trading in the green, while 33 were in red which is high. By the closing time, the shares of YES Bank, Ashok Leyland, Tata Motors, SBI, ICICI Bank, NTPC, ITC, Indian Oil Corp, Axis Bank, and Idea Cellular were among the most traded securities on the National Stock Exchange.

While coming to the Friday session, the percentage down continued in the shares of private sector banks and in the red with the Nifty Private Bank index down 0.31 percent at 15,479.15.
Shares of some private banks like IndusInd Bank with 2.55 percent down, YES Bank with 1.71 percent down, IDFC Bank (0.53 percent down), and South Indian Bank with 0.63 percent down were trading with losses. Similar to Thursday trading, ICICI Bank, Federal Bank, and Axis Bank were the worst performers in the index with 0.49 percent, 0.31 percent, and 0.21 percent down respectively. Benchmark NSE Nifty 50 index was 51.25 points down at 10,770.35 whereas the BSE Sensex was 155.30 points down at 35,951.20 by Friday afternoon. By the end of the day, among the existing 50 stocks in the Nifty index, 14 were trading in the green and the remaining 36 were in the red. Shares of different banks and companies like YES Bank, Tata Motors, Bank of Baroda, Tata Motors, Ashok Leyland, SBI, ICICI Bank, Hindalco Industries, ITC, NTPC, and Infosys were among the most traded shares.