Share market update: Bank shares under pressure; Kotak Mahindra Bank falls over 5%

NEW DELHI: Bank shares were trading under pressure with the Nifty Bank index down 1.4 per cent at 26,220.7 on Monday.

Shares of Kotak Mahindra Bank (down 5.60 per cent), Axis Bank (down 1.49 per cent), YES Bank (down 1.41 per cent) and ICICI Bank (down 1.26 per cent) were the worst performers in the index.

IDFC Bank (down 1.10 per cent), IndusInd Bank (down 0.65 per cent) and Punjab National Bank (down 0.61 per cent) too were trading in the red.

Benchmark NSE Nifty50 index was down 165.35 points at 10,528.35 while BSE Sensex was down 540.71 points at 35,132.54.

Among the 50 stocks in the Nifty index, 5 were trading in the green, while 45 were in the red.

Shares of Indian Oil Corp, YES Bank, ONGC, NTPC, Sun Pharma, Kotak Bank, Ashok Leyland, BEL, Coal India, ICICI Bank and Tata Motors were among the most traded shares on the NSE.