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hBits Expands to Pune with CyberCity Magarpatta Acquisition, Eyes Investment Opportunities -
India's First Green Hydrogen Pilot Project Goes Live at Nathpa Jhakri -
DCB Bank Q4 Results: PAT Grew 9% To Rs 156 Cr, NII Jumps 4.5%; Dividend Declared -
RBI Halts New Customer Onboarding at Kotak Mahindra Bank Over IT Compliance -
Macrotech Developers' Annual Profit Triples Despite Q4 Dip -
DoT Engages TRAI for Equitable Satcom Spectrum Allocation Guidelines -
Axis Bank Q4 Results: Net Profit Stood At Rs 7,130 Cr, NII Grew By 11%; Rs 1/Share Dividend Declared -
Infina Finance, Kotak Bank Promoter, Donates Rs 60 Cr to BJP -
ASK Automotive, AISIN Group Announce Joint Venture for Passenger Car Aftermarket -
No Onboarding Of New Customers Via Online, Mobile Banking From April 24 At Kotak Bank; RBI Issues Ban
Bank Nifty Drops 650 Points, ICICI Bank Sees Deep Cut
The Bank Nifty, which had staged a sharp recovery in the last few days, once again saw deep cuts with ICICI Bank dropping more than 5 per cent, while Axis Bank and IndusInd Bank fell close to 3 per cent each.
Even smaller players like DCB, Bandhan Bank and the Federal Bank were trading sharply lower.
In the last few days, there has been remarkable recovery in banking stocks, but, those gains were given-up today.
One of the reasons for the fall in the stock markets and banking stocks was reports that an experimental coronavirus treatment drug failed in its first randomized clinical trial, inadvertently released results showed Thursday, dampening expectations for the closely watched drug.
A draft summary went online briefly on the website of the World Health Organization (WHO) and was first reported by the Financial Times.
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