Banking stocks take a beating: BoB, PNB, RBL Bank down 4% each, YES Bank crashes

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Benchmark indices are trading at day’s low on August 22, down over a percent each with Nifty below 10,800, down 129 points. Sensex, on the other hand, plunged 415 points and was at 36,644 level after the local currency hit 2109 low.

The Realty index is down over 5 percent followed by Metal, PSU banks and the media sector.

Nifty Bank shed close to 2 percent dragged by YES Bank that plunged 14 percent. The scrip has been on a losing spree for a while now.

The worries over the valuation of stake in Gautam Thapar’s CG Power, which has been hit by allegations of financial irregularities, has weighed on the stock.

The other losers include Bank of Baroda (down 4.85 percent), Punjab National Bank (down 4 percent), State Bank of India (down 3 percent), ICICI Bank (down 2.56 percent), IndusInd Bank (down 2.31 percent) and RBL Bank (down 2.34 percent).

India VIX jumped 2.12 percent and was at 17.38.

Among Nifty constituents, 10 stocks advanced and 40 stocks declined.