Share market update: Bank shares slip; PNB slumps over 7%

NEW DELHI: Bank shares were trading with losses in Monday's morning session.

Shares of Punjab National Bank (down 7.70 per cent), State Bank of India (down 2.09 per cent), Bank of Baroda (down 1.92 per cent) and Kotak Mahindra Bank (down 1.69 per cent) were the worst performers in the index.

ICICI Bank (down 1.49 per cent), HDFC Bank (down 1.34 per cent), Federal Bank (down 1.16 per cent) and IndusInd Bank (down 0.92 per cent) too were trading with losses.

The Nifty Bank index was trading 1.26 per cent down at 31,078.45 around 09:55 am.

Benchmark NSE Nifty50 index was down 116.40 points at 11,694.75 while the BSE Sensex was down 389.37 points at 39,124.02.

Among the 50 stocks in the Nifty index, 8 were trading in the green, while 42 were in the red.

Shares of YES Bank, PNB, Vodafone Idea, Bank of Baroda, SAIL, JSPL, Indiabulls Housing Finance, Adani Power, NBCC and SBI were among the most traded shares on the NSE.