Profit booking in banking stocks on Thursday pulled down the 30-share benchmark Sensex in the morning trade, with HDFC plunging nearly two per cent on the Bombay Stock Exchange.
Shares of the mortgage lender HDFC lost 1.89 per cent to touch a early low of Rs 731.20 on BSE. In the early morning trade, the scrip was the worst performer in the index and dragged Sensex down by 20.99 points to 20,522.09.
Market analysts attributed the weakness in the financial stocks to the lack of fresh buying and the profit booking by the investors.
Erasing last session's gains, shares of private sector lender ICICI Bank were down by 1.06 per cent to an early morning low of Rs 1,136.40. This is in contrast to on Wednesday, where the scrip had touched a 52-week high with a gain of 2.27 per cent on BSE.
Another major private player, HDFC Bank, also opened the day on a weak note, slipping 0.87 per cent lower at Rs 2,433.
The country's largest lender, SBI, too was trading in red at Rs 3,215, down 0.52 per cent from previous close.
The weakness in the major banking counters in the morning trade pulled the banking index on BSE down by over 44 points.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Special 
