Stock market update: Private banks slump; ICICI Bank falls 2%

NEW DELHI: Shares of private banks were in the green in Monday's morning trade.

Shares of ICICI Bank (down 2.13 per cent), Axis Bank (down 1.6 per cent), HDFC Bank (down 1.35 per cent), Federal Bank (down 1.2 per cent) and Kotak Mahindra Bank (down 1.14 per cent) were among the top losers.

IDFC Bank (down 1.12 per cent), RBL Bank (down 1.05 per cent), City Union Bank (down 0.61 per cent), YES Bank (down 0.42 per cent) and IndusInd Bank (down 0.27 per cent) too were in the red.

The Nifty Private Bank index was trading 1.38 per cent down at 16,661.2 around 10:31 am.

Benchmark NSE Nifty50 index was down 134.00 points at 11,946.85, while the BSE Sensex was 430.19 points at 40,739.93.

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

Shares of Vodafone Idea, YES Bank, GMR Infra, SBI, Indiabulls Housing, Tata Motors, PNB, Ashok Leyland, Bharti Infratel and SAIL were among the most traded shares on the NSE.