Fourteen banks declined by 2.89% to 8.04% at 14:20 IST on BSE in a broad-based sell off.
Bank of Baroda (down 8.04%), Bank of India (down 7.61%), Axis Bank (down 7.45%), Canara Bank (down 7.41%), Yes Bank (down 7.37%), Federal Bank (down 5.54%), Punjab National Bank (down 4.99%), IndusInd Bank (down 4.84%), HDFC Bank (down 4.81%), IDBI Bank (down 4.57%), ICICI Bank (down 4.47%), Union Bank of India (down 4.31%), Kotak Mahindra Bank (down 4.11%) and State Bank of India (down 2.89%), edged lower.
The BSE Bankex was down 4.78% at 10,889.28. It underperformed the Sensex, which was down 3.26% at 18,735.29.
The BSE Bankex had underperformed the market over the past one month till 14 August 2013, falling 14.51% compared with the Sensex's 2.96% decline. The index had also underperformed the market in past one quarter, sliding 20.56% as against Sensex's 1.80% fall.
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