Banking shares are under pressure on the bourses in early morning trades falling up to 8% after the Reserve Bank of India (RBI) has imposed some more measures to tighten liquidity to stabilize Indian rupee. IndusInd Bank and Yes Bank were down by 8% each at Rs 426 and Rs 404 respectively, while Federal Bank and Axis Bank were slipped 5% each at Rs 362 and Rs 1,146 respectively on the Bombay Stock Exchange (BSE).
State Bank of India, ICICI Bank, HDFC Bank, Punjab National Bank, Oriental Bank of Commerce, Bank of India, Dena Bank, Canara Bank, ING Vysya Bank and Corporation Bank were down 2-5%.The BSE banking index Bankex, the largest loser among sectoral indices, was down nearly 4% or 451 points as compared to 0.39% or 80 points fall in benchmark Sensex at 0955 hours.
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