Share market update: Bank shares tumble; Kotak Bank tanks 20%

NEW DELHI: Bank shares were trading with losses in Friday's morning session.

Shares of IDFC BANK (down 21.6 per cent), Kotak Mahindra Bank (down 20.0 per cent), Bank of Baroda (down 15.98 per cent), IndusInd Bank (down 14.56 per cent), Axis Bank (down 13.29 per cent), Federal Bank (down 12.84 per cent), State Bank of India (down 12.82 per cent), Punjab National Bank (down 12.74 per cent), RBLBANK (down 10.23 per cent), Yes Bank (down 9.38 per cent), HDFC Bank (down 6.98 per cent) and ICICI Bank (down 5.63 per cent) were the top losers in the index.

The Nifty Bank index was trading 10.74 per cent down at 21397.45.


The BSE Sensex hit its 10 per cent lower circuit limit at 29,687.52 after falling 3,090.62 points, or 9.43 per cent. The Nifty50 also hit its lower circuit at 8,624.05, down 966.10 points or 10.07 per cent. The trading has been halted for 45 minutes.
The next Nifty circuit will be at 8,151.

Among the 50 stocks in the Nifty index, 0 were trading in the green, while 50 were in the red.

Shares of Vodafone Idea, YES Bank, GMR Infra, SBI, ICICI Bank, Tata Motors, ITC, IDFC First Bank Ltd., ONGC and Coal India Ltd were among the most traded shares on the NSE.