Major Banking Shares Down As SBI, Axis Bank All Trade In Red

The Indian indices appear to not be having the most blissful day at Dalal Street as marquee indices continue to trade red as we approach the halfway mark of the day's trade on Friday, June 21. In focus are banking shares, as major private and public sector banks are trading in negative territory with marginal decline in the numbers.

Banks Trade in Red

The largest lender in the country, SBI, started the day's trade on a reasonably positive note before declining by 0.46 per cent or Rs 3.90, dropping the cumulative value to Rs 839.85. Other big PSBs also appear to be having a bad day.

The Bank of Baroda shares dropped 0.40 per cent or Rs 1.15, taking its value to Rs 284.05. BoB appears to have crests and troughs within the first few hours of the trading session.

One of the best performing government-owned banks, Bank of Maharashtra, also slipped by a significant 1.70 per cent or Rs 1.13, taking its value to Rs 65.15 per share. BoM, unlike SBI and BoB, has suffered a consistent decline, since the beginning of the trading session.

Now, as we move to the all-important private sector banks, the country's largest bank by market cap, HDFC Bank, suffered a decline of over 1 per cent with a drop of 1.44 per cent or Rs 24.05, dropping to Rs 1,645.30.

Another major private bank, Axis Bank, also dropped by 1.18 per cent or Rs 14.65, decreasing to Rs 1,224.85 per share. Axis Bank, much like BoM, appears to have seen a consistent decline since the beginning of the day.

ICICI Banks Is The Outlier

One of the biggest banks in the country, ICICI Bank appears to have had a relatively better day than its peers, as the Mumbai-based bank jumped by 0.017 per cent, after a marginal decline of 0.035 per cent before.

As far as the Indian indices are concerned, At 11:26 IST, the BSE Sensex, after scaling the life-high of over 77K, has declined by 0.34 per cent or 265.08, taking it to 77,213.85 points.

Meanwhile, NSE Nifty also dropped 0.18 per cent or 42.05 points, taking the total tally to 23,524.95. In addition, understandably, Nifty Bank is also down 0.73 per cent or 379.00 points, taking its total value to 51,404.25.