Shares of 14 banks fell by 0.38% to 3.52% at 11:05 IST on BSE after the Reserve Bank of India cut the key policy rate viz. the repo rate by 25 basis points at its Monetary Policy 2013-14 today, 3 May 2013.
State Bank of India (down 3.52%), Canara Bank (down 3.18%), Union Bank of India (down 3.12%), Bank of India (down 2.87%), Axis Bank (down 2.67%), Punjab National Bank (down 2.67%), IDBI Bank (down 2.32%), ICICI Bank (down 2.14%), IndusInd Bank (down 2.06%), Bank of Baroda (down 1.61%), HDFC Bank (down 1.31%), Federal Bank (down 1.1%), Yes Bank (down 0.75%) and Kotak Mahindra Bank (down 0.38%), edged lower.
The S&P BSE Bankex was down 2.07% at 14230.62. It underperformed the S&P BSE Sensex, which was down 0.74% at 19,588.86.
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