![Banks under pressure; ICICI, IndusInd, BOB, IDFC First down up to 3% 1 bs logo](https://thespuzz.s3.ap-south-1.amazonaws.com/thespuzz/uploads/2022/08/05041910/bs-logo.jpg)
Banking stocks remained under pressure, with Nifty Bank index down nearly 1 per cent on the National Stock Exchange (NSE) in Tuesday’s intra-day trade following reports of the Securities and Exchange Board of India (Sebi), India’s market regulator, issued a “show-cause notice” to Hindenburg Research on June 27th, 2024.
Among the banking stocks, ICICI Bank, IndusInd Bank, IDFC First Bank, Bandhan Bank and Federal Bank from the private sector and Bank of Baroda (BOB), Punjab National Bank and State Bank of India (SBI) from the public sector slipped in the range of 1 per cent to 3 per cent.
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Meanwhile, shares of Kotak Mahindra Bank slipped 4 per cent in intraday deals on Tuesday to Rs 1,737 levels. The stock partially erased its losses and was trading down by 2 per cent to Rs 1,770 levels as trade progressed.
“K- India Opportunities Fund Ltd. (KIOF) is a SEBI registered Foreign Portfolio Investor and is regulated by the Financial Services Commission of Mauritius. The Fund, was established in 2013 to enable foreign clients to invest in India. The Fund follows due KYC procedures while onboarding clients and all its investments are made in accordance with all applicable laws. We have cooperated with regulators in relation to our operations and continue to do so.
Disclosure: Entities controlled by the Kotak family have a significant holding in Business Standard Pvt Ltd
First Published: Jul 02 2024 | 2:55 PM IST