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India: Thumbs down for bank stocks.
BLAME it on the overall weak market sentiment or the reaction to the credit policy, the bottomline is that almost all the stocks from the banking sector ended on Tuesday day on a weak note.
While the benchmark BSE Sensex declined by 110.79 points or about 2.7 per cent, the ICICI Bank stock was a top loser from the universe of banking stocks. Its price declined by about 8 per cent to close at Rs. 110.7.
Despite being a constituent of the BSE Sensex, SBI managed to withstand the overall weak sentiment. It declined by Rs. 1.35 to Rs. 171.45 which is hardly surprising if viewed in the light of a 2.7 per …
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