RBI rap on 3 pvt sector banks impacts share prices

The RBI rap on three private sector banks in the wake of Cobrapost expose impacted their share prices in the morning trade today.

The impact was not very significant since the RBI investigations prima facie did not find any evidence for the more serious charge of money laundering.

HDFC Bank was the least hit and in fact, the scrip after touching a low of Rs 673, entered the green, gaining Rs 3.15 to trade at Rs 679.50 with a trading volume of 1.24 lakh shares within the first 15 minutes of trading.

ICICI Bank shed Rs 18.40 to trade at Rs 1,099.40 with a trading volume of 4.73 lakh shares and Axis Bank was down by Rs 25.40 to trade at Rs 1329.85 with a trading volume of 2.10 lakh shares.

But this has also to be seen in the context of the market itself having a weak opening over concerns of a depreciating rupee against the US dollar.