STOCK MARKET BSE NSE

Bank stocks extend fall, down up to 2.3 per cent

Reports suggest that the central bank has asked the lenders to set aside additional capital against stressed assets that have been referred for insolvency proceedings.

Published: 28th June 2017 06:01 PM  |   Last Updated: 28th June 2017 06:01 PM   |  A+A-

nifty

(File Photo | Reuters)

By PTI

MUMBAI: Bank stocks stretched its weakening trend for the second consecutive session today, dropping as much as 2.3 per cent, amid reports that the RBI asked the banks to go for higher provisioning against stressed loans referred to the insolvency court.     

Shares of Central Bank of India dipped 2.30 per cent, followed by State Bank of India (1.07 per cent), Bank of Maharashtra (0.54 per cent), Federal Bank (0.53 per cent), Punjab National Bank (0.47 per cent) and HDFC Bank (0.11 per cent) on BSE.     

Among others, Syndicate Bank fell 0.21 per cent and Kotak Mahindra Bank dropped 0.04 per cent.   

Reports suggest that the central bank has asked the lenders to set aside additional capital against stressed assets that have been referred for insolvency proceedings.     

Bank stocks were down up to 5 per cent in the previous trading session.     

The BSE benchmark Sensex today plunged 124 points to close at 30,834.32.     

"Banks NPA woes and expectation of higher cost on consumer durables post GST roll-out have kept the market in the red," said Vinod Nair, Head of Research, Geojit Financial Services Ltd



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp