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Last Updated : Aug 19, 2011 09:21 AM IST | Source: CNBC-TV18

What led to the drop in bankex that pulled the Nifty down?

CNBC-TV18's Gopika Gopakumar reports that the banking stocks were singly responsible for the bloodbath on the D-Street today. The banking index, Bankex, accounts for over 25% of the Nifty, and it falling a dramatic 3.5% today, dragged the markets down over 2%.


CNBC-TV18's Gopika Gopakumar reports that the banking stocks were singly responsible for the bloodbath on the D-Street today. The banking index, Bankex, accounts for over 25% of the Nifty, and it falling a dramatic 3.5% today, dragged the markets down over 2%.


Some of the heavyweights like ICICI, Bank of Baroda and SBI registered a fall of over 4%. Market rumour has it that a huge selloff by exchange traded funds (ETFs) which were faced with redemptions, led to the fall in banking stocks.


Meanwhile, experts opine that moderating loan growth and fear of weakening asset quality have changed the whole outlook of investors towards the banking industry.

First Published on Aug 18, 2011 10:36 pm
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