Bank shares go down as Sensex slips 133 points, Nifty reaches below 10200-mark

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The benchmark Bombay Stock Exchange Sensex slips 133 points while Nifty went below 10200 marks as early trade began today.

Sensex extended their loss for a continuous sixth day as the early hours of trade began today. The losses were in heavy selling in banking and metal and power stocks.

There was also a weak trend in other Asian markets the White House economic advisor Gary Cohn resigned fearing a rise on an import tariff hike.

The BSE 20-share index was 33184.37 after a 0.39 percent fall. Sectoral indices led by banking, metal and power were in the negative zone, it fell by 0.98 percent.

While National Stock Exchange (NSE) found a 0.49 percent drop to end at 10,198.65 points.

The Foreign Portfolio Investors (FPIs) bought shares of Rs 620.08 crore while Domestic Institutional Investors sold shares worth Rs 734.33 crore on a net basis.
Impact on Private banks

Shares of the private sector Player ICICI Bank slumped as the senior officials of the bank were summoned by the Serious Fraud Investigation Office (SFIO) regarding PNB scam. The officials denied any involvement. Its shares opened weak on Wednesday before losing further ground to 3.32 percent. It touched an intra-day low to Rs 285.30. The overall slump has been 12.75 percent since February 26.

Senior officials from private players like Axis Bank also appeared before the SFIO yesterday. Its bank shares also fell by 1.20 percent to hit an intra-day low of Rs 510.55 on BSE.

Other laggards were SBI, Tata Steel, Sun Pharma and Hero Motocorp.

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