Money on the markets
A maturing market amid the mayhem
Banking shares fell on Wednesday ahead of the RBI’s policy review, with the sectoral index falling 1.6 percent.
Axis Bank shares fell 2.7 percent and ended as the top loser in the index, followed by SBI which dropped 2.3 percent.
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The BSE Banking index ended the day down 1.5 percent with stocks like Yes Bank and ICICI falling more than 3 percent.
SBI shares however bucked the trend and ended marginally in green.
Worries about more rate hikes have been bothering this sector, and banking funds recorded a fall of more than 5 percent in May.