NEW DELHI: Private bank stocks YES Bank (down 1.71 per cent), IDFC Bank (down 1.40 per cent) and Axis Bank (down 0.74 per cent) were suffering losses during early trade on Tuesday, keeping the sectoral index down.
The Nifty Private Bank was trading 0.26 per cent down at 14,882 around 10:30 am.
Shares of South Indian Bank (down 0.63 per cent) and ICICI Bank (down 0.56 per cent) were also in the red.Meanwhile, Federal Bank (up 1.29 per cent), RBL Bank (up 0.60 per cent) and Kotak Mahindra Bank (up 0.30 per cent) were up.IndusInd Bank (up 0.02 per cent) and HDFC Bank (down 0.06 per cent) were almost flat around that time.Market was subdued ahead of RBI's policy decision due tomorrow.
The RBI's Monetary Policy Committee began its three-day meeting yesterday amid speculation that it may hike the key interest rate for the first time in over four years on account of firming inflation.Benchmark NSE Nifty50 index was down 36 points at 10,593, while the BSE Sensex was 81 points down at 34,930.Among the 50 stocks in the Nifty index, 13 were trading in the green, while 37 were in the red.
Adani Power, Bharti Infratel and Videocon Industries featured among stocks that touched 52-week lows on NSE.