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.