NEW DELHI: A majority of private bank stocks were suffering losses in Tuesday's session.The Nifty Private Bank index was trading 0.44 per cent down at 15,991.85 around 11:55 am.
Shares of IDFC Bank (down 2.30 per cent), ICICI Bank (down 1.08 per cent), South Indian Bank (down 0.84 per cent) and Axis Bank (down 0.71 per cent) were the top losers in the private bank index.Shares of Kotak Mahindra Bank (down 0.63 per cent), IndusInd Bank (down 0.54 per cent) and YES Bank (down 0.28 per cent) too were in the red.However, RBL Bank (up 1.47 per cent), Federal Bank (up 1.17 per cent) and HDFC Bank (up 0.27 per cent) were in the green.
Equity benchmarks Sensex and Nifty erased early gains after hitting fresh record highs of 38,402.96 and 11,581.75, respectively.Market decided to play safe as investors digested US President Donald Trump's comments on alleged manipulation of currencies by China and Europe ahead of the scheduled trade talks.
Benchmark NSE Nifty50 index was down 5.55 points at 11,546.20, while the BSE Sensex was 44.55 points at 38,234.20.
Among the 50 stocks in the Nifty index, 22 were trading in the green, while 27 were in the red.
Tech Mahindra, Wipro, Coal India, UPL and HCL Technologies were among the top gainers, while Tata Steel, BPCL, Hindustan Unilever, State Bank of India and ICICI Bank were among the top losers in the Nifty index.