NEW DELHI: Most private bank stocks, including South Indian Bank (down 1.57 per cent), Federal Bank (down 1.22 per cent), Axis Bank (down 1.15 per cent) and YES Bank (down 1.07 per cent) were trading in the negative territory during morning trade on Monday.The Nifty Private Bank index was trading 0.49 per cent down at 14,889 around 10:25 am.
Shares of HDFC Bank (down 0.69 per cent), RBL Bank (down 0.48 per cent), ICICI Bank (down 0.36 per cent) and IDFC Bank (down 0.13 per cent) were also down.
Meanwhile, IndusInd Bank (up 0.22 per cent) and Kotak Mahindra Bank (up 0.10 per cent) were trading with nominal gains.
Market sentiment was negative amid mixed global cues.
Weak macro cues along with mixed PMI readings globally too weighed on the sentiment.Strong selling was witnessed in energy, FMCG, utilities, metal and power sector.
Benchmark NSE Nifty50 index was down 66 points at 10,648, while the BSE Sensex was 185 points down at 35,238.
Among the 50 stocks in the Nifty index, 17 were trading in the green, while 33 were in the red.
NTPC, Vedanta and ONGC were among the top losers in the Nifty index.