Rate sensitives plunge on panic selling in banks; YES Bank tumbles 30%

Based on publically available data, analysts at Macquarie said in a recent report that YES Bank, Bank of Baroda (BOB) and IndusInd Bank are the most exposed to Indiabulls Group

Shares of rate sensitive sectors like banking, real estate and automobile companies came under heavy selling pressure on Tuesday, falling by up to 30 per cent on the National Stock Exchange (NSE).

The Nifty PSU Bank index tumbled 8 per cent in intra-day deals to 2,118, its lowest level since May 2016. Nifty Realty, too, slipped 6 per cent to 241, while Nifty Private Bank and Nifty Auto indexes down 3 per cent and 2 per cent, respectively. In comparison, the benchmark Nifty 50 index down 1.75 per cent at 11,273 points.