The Nifty Bank on Monday plunged 5 percent in trade on Monday as heavy selloffs in the market continued for the second day. The drop in the Nifty Bank was led by HDFC Bank.

Share Market Live

NSE

At 10:24am, Nifty Bank was trading 1.10 percent lower to 29,443.10. Among Nifty Bank stocks, HDFC Bank was trading 3.11 percent lower intraday. Shares of ICICI Bank declined 1.46 percent while Kotak Mahindra Bank fell 2 percent intraday on Monday.

Private lender HDFC Bank saw net profit growing 21 percent YoY. The profit decreased this quarter due to weakened asset quality.

The Bank saw provisions increasing for bad loans significantly to Rs 2,613.7 crore in the June quarter, higher by 38.3 percent as compared to previous quarter, and up by 60.4 percent from the year-ago period.

Catch all the latest and live updates here on CNBC TV18 Market Live Blog.

Disclaimer: CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

First Published:Jul 22, 2019 11:13 AM IST