Stock market update: YES Bank, Kotak Bank keep Nifty Private Bank index under pressure

NEW DELHI: Losses in the shares of YES Bank (down 2.77 per cent), Kotak Mahindra Bank (down 0.80 per cent), IndusInd Bank (down 0.57 per cent) and HDFC Bank (down 0.31 per cent) weighed on private bank index in Friday's session.

Shares of YES Bank have been under pressure for over a week, barring Wednesday's gain. RBI's approval of Rana Kapoor’s reappointment as the MD and CEO of the bank with words ‘till further notice’ has made investors unsure if the bank needs to begin looking for Kapoor's successor.

The Nifty Private Bank was trading 0.09 per cent down at 15,577 around 11:10 am.


However, RBL Bank (up 1.49 per cent), ICICI Bank (up 1.14 per cent), South Indian Bank (up 0.89 per cent), Axis Bank (up 0.71 per cent), IDFC Bank (up 0.67 per cent) and Federal Bank (up 0.32 per cent) were up, restricting the fall in the sectoral index.

Market moved up on gains in Reliance Industries, ICICI Bank, Hindustan Unilever and Infosys.

However, losses in Sun Pharma, HDFC twins and YES Bank capped the gains for market.

Benchmark NSE Nifty50 index was up 22 points at 11,559, while the BSE Sensex was up 54.68 points at 38297.

Among the 50 stocks in the Nifty index, 33 were trading in the green, while 17 were in the red.

In the Sensex kitty, 18 stocks were advancing and 13 stocks declining.

Aurobindo Pharma, YES Bank, Adani Enterprises, Reliance Communications and Jaiprakash Associates were leading among most traded stocks on NSE.