Bankex index goes down, affects market

BSE Bankex sector is underperforming the markets with major stocks losing grounds. It is currently trading at 21,863.05 levels and is down by 107.92 points or 0.49 per cent. The heavywieght stocks which is dragging the sectoral index down are Axis Bank, Induslnd Bank, Federal Bank, Yes Bank and Punjab National Bank. 

Axis Bank is down by 1.54 per cent, IndusInd Bank is down by 1.03 per cent, Federal Bank is down by 0.72, Yes Bank is down by 0.72 per cent and Punjab National Bank is down by 0.61 per cent. Axis Bank and Induslnd Bank, which are the major stocks in the banking sector are contributing to 57 per cent of the loses in the BSE Bankex sectoral index.

Meanwhile, Kotak Mahindra Bank is the only stock which is trading in green in the sectoral index and its stock is up by 0.33 per cent.

Overall, there are 1 advances and 9 declines.