Axis Bank Ltd.

Banking shares continued to reel under pressure for second consecutive session after RBI's directive to set aside more capital to meet BASEL III requirements. The new norms mandate Indian banks need to maintain a minimum capital adequacy ratio (CAR) of nine per cent, in addition to a capital conservation buffer, which will be in the form of common equity at 2.5 per cent of the risk weighted assets. In other words, banks’ minimum CAR must be 11.5 per cent. Indian banks are currently required to have CAR of at least nine per cent.

Bank of Baroda is currently trading at Rs 686.00, down by 44.90 points or 6.14% from its previous closing of Rs 730.90 on the BSE. The scrip opened at Rs 732.05 and has touched a high and low of Rs 740.70 and Rs 684.50 respectively. So far 488534 shares were traded on the counter.

Axis Bank is currently trading at Rs 1005.95, down by 52.45 points or 4.96% from its previous closing of Rs 1058.40 on the BSE. The scrip opened at Rs 1051.00 and has touched a high and low of Rs 1051.00 and Rs 999.15 respectively. So far 289622 shares were traded on the counter.

Punjab National Bank is currently trading at Rs 802.50, down by 41.70 points or 4.94% from its previous closing of Rs 844.20 on the BSE. The scrip opened at Rs 851.00 and has touched a high and low of Rs 851.00 and Rs 795.00 respectively. So far 61226 shares were traded on the counter.

State Bank of India (SBI) is currently trading at Rs 1998.00, down by 87.20 points or 4.18% from its previous closing of Rs 2085.20 on the BSE. The scrip opened at Rs 2064.10 and has touched a high and low of Rs 2069.45 and Rs 1993.00 respectively. So far 481462 shares were traded on the counter.