Authors: JordanNEW DELHI: The Nifty Bank index was trading 0.13 per cent down at 25,534 around 11:05 am (IST).
Federal Bank (down 1.92 per cent), Bank of Baroda (down 1.91 per cent) and IDFC Bank (down 1.36 per cent) were the top losers in the Nifty Bank index.RBL Bank (down 0.99 per cent), YES Bank (down 0.71 per cent), HDFC Bank (down 0.61 per cent), Kotak Mahindra Bank (down 0.54 per cent), IndusInd Bank (down 0.50 per cent) and Punjab National Bank (down 0.27 per cent) were also in the red.Meanwhile, shares of Axis Bank (up 1.33 per cent) and ICICI Bank (up 1.30 per cent) were trading with gains of over 1 per cent, whereas State Bank of India (up 0.04 per cent) was almost flat.
The equity benchmarks Sensex and Nifty50 were in the red on weak Asian cues as tariff woes between the US and China returned, ahead of trade talks between the two countries.
Market participants booked profits tracking a weak trend in other Asian bourses, following overnight losses on the Wall Street after the US Federal Reserve kept its benchmark interest rate unchanged at 1.5 per cent to 1.75 per cent.The NSE Nifty50 index was down 50 points at 10,668, while the BSE Sensex was 98 points down at 35,078.Among the 50 stocks in the Nifty index, 15 were trading in the green, while 35 were in the red.Shares of InterGlobe Aviation, Ashok Leyland, Axis Bank and YES Bank were among the most traded stocks on the National Stock Exchange.