Stock market update: Bank stocks down; Kotak Mahindra Bank slips nearly 2%

NEW DELHI: Bank stocks were trading on a negative note at 10:40AM (IST) on Wednesday.

Shares of Kotak Mahindra Bank (down 1.52 per cent), HDFC Bank (down 1.42 per cent), Bandhan Bank (down 1.23 per cent), Axis Bank (down 1.0 per cent) and RBL Bank (down 0.59 per cent) were the top losers in the index.

While Bank of Baroda (up 4.67 per cent), State Bank of India (up 3.97 per cent), Punjab National Bank (up 3.81 per cent) and IDFC Bank (up 1.16 per cent) were among the top gainers.

The Nifty Bank index was trading 0.4 per cent down at 22137.45 around 10:40AM.

Benchmark NSE Nifty 50 index was down 51.25 points at 11271.25, while the BSE Sensex was 172.89 points at 38234.12.

Among the 50 stocks in the Nifty index, 14 were trading in the green, while 36 were in the red.

Shares of Vodafone Idea, SBI, Bank of Baroda, PNB and Motherson Sumi were among the most traded shares on the NSE.

Shares of Indiabulls Ventures (PP), ITI Ltd, M&M, GMM Pfaudler and Syngene International Ltd. hit their fresh 52 week high in today's trade.