Share market update: Banking index trades lower; YES Bank gains 6%

NEW DELHI: Banking index was trading with losses on Thursday as inflation continued to rise in January and December factory output was lower than expected.

RBL Bank Ltd. (down 1.76 per cent), Kotak Mahindra Bank Ltd. (down 1.48 per cent), IndusInd Bank Ltd. (down 1.16 per cent), Axis Bank Ltd. (down 1.09 per cent), ICICI Bank Ltd. (down 1.06 per cent) and Federal Bank Ltd. (down 1.05 per cent) were top losers in the index.

HDFC Bank Ltd. (down 0.76 per cent), IDFC First Bank Ltd. (down 0.37 per cent), Punjab National Bank (down 0.27 per cent) and Bank of Baroda (down 0.45 per cent) were among other losers.

YES Bank Ltd. (up 6.39 per cent), State Bank of India (up 2.73 per cent), Bank of Baroda (up 0.51 per cent), Punjab National Bank (up 0.18 per cent), IDFC First Bank Ltd. (up 0.37 per cent), HDFC Bank Ltd. (up 0.76 per cent), Federal Bank Ltd. (up 1.00 per cent), ICICI Bank Ltd. (up 1.06 per cent), Axis Bank Ltd. (up 1.09 per cent) and IndusInd Bank Ltd. (up 1.15 per cent) were among the top gainers.

The Nifty Bank index was trading 0.58 per cent down at 31,311.3 around 11:01AM .

Benchmark NSE Nifty50 index was down 41.55 points at 12,159.65 , while the BSE Sensex was 141.82 points at 41,424.08.
Among the 50 stocks in the Nifty index, 17 were trading in the green, while 33 were in the red.

Shares of YES Bank, Idea Cellular, SBI, Ashok Leyland, Tata Motors, Indiabulls Housing Finance, Zee Entertainment, BHEL, PFC and Bank of Baroda were among the most traded shares on the NSE.