Share market update: Bank shares tumble; Yes Bank tanks 25%


NEW DELHI: Bank shares were trading with losses in Friday’s morning session after RBI took over YES Bank’s board and imposed a month-long moratorium.
The Reserve Bank of India (RBI) also put a cap on cash withdrawal from the bank, saying customers cannot withdraw more than Rs 50,000 over next one month.

Shares of Yes Bank (down​ 25 per cent)​, RBL BANKNSE -14.10 % (down​ 15.39 per cent)​, IndusInd Bank (down​ 10.99 per cent)​, IDFC BANK (down​ 7.15 per cent)​, State Bank of India (down​ 6.86 per cent)​, Punjab National Bank (down​ 5.78 per cent)​, Axis Bank (down​ 3.79 per cent)​, Federal Bank (down​ 3.73 per cent)​, Bank of Baroda (down​ 3.6 per cent)​, ICICI Bank (down​ 3.2 per cent)​, Kotak Mahindra Bank (down​ 2.5 per cent)​ and HDFC Bank (down​ 2.24 per cent)​ were the top losers in the index.

The Nifty Bank index was trading 4.14 per cent down at 27622.85 around 09:39 am.

Benchmark NSE Nifty50 index was down 314.65 points at 10954.35 , while the BSE Sensex was down 1089.34 points at 37381.27 .

Among the 50 stocks in the Nifty index, 0 were trading in the green, while 50 were in the red.

Shares of Vodafone Idea, SBINSE -6.24 %, Tata Motors, GMR Infra, IDFC First Bank Ltd., Bank of Baroda, PNB, Indian Oil Corp and SAIL were among the most traded shares on the NSE.