 "Bank stocks face selling pressure ahead of RBI policy")
Shares of ICICI Bank plunged 5.63% to Rs 217.15, the most among the 30 bluechips of the Sensex.
State Bank of India lost 3.92%, Bank of Baroda was down by 2.82%, Axis Bank slipped by 2.17% and Punjab National Bank fell by 1.15% on BSE.
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Led by the losses in these scrips, the BSE bank index declined by 1.40% to end at 17,356.96.
"Despite positive macroeconomic developments, participants failed to muster much cheer and continued to await the outcome of RBI's monetary policy meet scheduled for tomorrow," said Shreyash Devalkar, Fund Manager - Equities, BNP Paribas MF.
Weakness in banking stocks also put pressure on broader market where the benchmark BSE Sensex fell by 45.86 points to end at 24,824.83.