Moneycontrol Bureau
Investors are selling Dena Bank and Vijaya Bank on Friday with the both stocks losing 6-9 percent after the National Stock Exchange decided to remove these stocks from its F&O list.
The exchange said both stocks will be excluded from F&O contracts from November 29. Hence, existing unexpired contracts of expiry months September 2013, October 2013 and November 2013 would continue to be available for trading till their respective expiry and new strikes would also be introduced in the existing contract months, the exchange said.
Meanwhile, all banks are under pressure after Reserve Bank of India hiked repo rate by 25 bps to 7.5 percent. The Bank Nifty crashed 6.36 percent or 709 points to 10439.
The central bank reduced marginal standing facility (MSF) rate by 75 bps to 9.5 percent and slashed minimum CRR from 99 percent to 95 percent, but left CRR unchanged at 4 percent.
At 11:27 hours IST, Vijaya Bank lost 5.84 percent to Rs 38.70 and Dena Bank slipped 7.78 percent to Rs 49.80.
(Posted by Sunil Shankar Matkar)
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