MUMBAI: Banking and power shares were the worst hit in Friday’s market slide after US and Asian markets tumbled on fears of more credit-related losses in the global financial sector and worries about a recession in the world’s largest economy.
At 11:13 am, Union Bank down 9 per cent was the biggest loser in the banking pack pulling the BSE Bankex down xx per cent. Yes Bank (down 8.68%), Axis Bank (6.92%), ICICI Bank (6.3%) and Centurion Bank of Punjab (5.85%) were also under pressure.
Among power stocks, Reliance Energy down 9.7 per cent took the sharpest knock. Other losers in the sector comprised Areva (8.56%), Torrent Power (8.12%), Reliance Power (6.6%), Crompton Greaves (5.86%) and ABB (4.07%).
At 11:13 am, Union Bank down 9 per cent was the biggest loser in the banking pack pulling the BSE Bankex down xx per cent. Yes Bank (down 8.68%), Axis Bank (6.92%), ICICI Bank (6.3%) and Centurion Bank of Punjab (5.85%) were also under pressure.
Among power stocks, Reliance Energy down 9.7 per cent took the sharpest knock. Other losers in the sector comprised Areva (8.56%), Torrent Power (8.12%), Reliance Power (6.6%), Crompton Greaves (5.86%) and ABB (4.07%).
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