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Banking stocks fall: Axis Bank share price drops over 2%

Axis Bank share price fell over 2 per cent to Rs 736.85 on Thursday, in line with BSE Bankex index which was down 1.45 per cent or 590.59 points at 40,240

twitter-logoBusinessToday.In | March 4, 2021 | Updated 17:21 IST
Banking stocks fall: Axis Bank share price drops over 2%
Axis Bank shares falls over 2 per cent

Shares of Axis Bank fell over 2 per cent in early deals on Thursday, in line with BSE benchmark Sensex which was down 600 points. The stock was among top laggards on BSE Bankex index, followed by HDFC Bank, ICICI Bank, IndusInd Bank and Bandhan Bank, among others. The BSE Bankex index was down 1.45 per cent or 590.59 points at 40,240. 

Also read: Top losers today: Five stocks fall upto 3%; HDFC, L&T, Axis Bank, Bajaj Finserv, HDFC Bank

Axis Bank shares opened lower at Rs 732.80 against previous closing price of Rs 753.65. In the early deals, the stock hit a high and low of Rs 740.90 and Rs 732.05. The stock was currently trading 2.23 per cent lower at Rs 736.85 on BSE amid surge in selling. As much as 10.71 lakhs shares changed hands over the counter as compared to two-week average volume of 10.2 lakh shares.  The market cap of the lender fell to Rs 2,26,5878 crore.

Meanwhile, the BSE Bankex index was at 40,240.22, down by 590.59 points or by 1.45 per cent.  

Among others, HDFC Bank was down 2.17 per cent at Rs 1,552, followed by ICICI Bank Ltd. (Rs 621.35, down 1.66 per cent), IndusInd Bank Ltd. (Rs 1,084.05, -1.45 per cent), Bandhan Bank (Rs 350, -1.33 per cent).

On Wednesday, Axis Bank launched WhatsApp banking service to help customers seek information regarding their account balance, recent transactions, credit card payments, fixed and recurring deposit details, besides getting their queries answered in real-time. By using WhatsApp Banking, customers can now chat with Axis Bank for their queries related to their banking transactions, information like nearest branch, ATM or loan centre location, and can apply for various banking products as well. They can also block their credit or debit card using the secure end-to-end encrypted messaging channel, the bank said.

Commenting on the launch, Sameer Shetty, EVP and Head - Digital Banking, Axis Bank said: "Our objective is to re-define the role we can play in the life of our customers, by elevating digital banking to new domains of customer engagement. This technology will not only enhance customer experience, but also provide a seamless and personalised experience to all our customers, as well as non-customers.''

Meanwhile, the BSE Sensex was at 51,133.4, down by 311.25 points or by 0.61 per cent.

Also read: Share Market Live Updates: Sensex, Nifty trim early losses; HDFC twins, Axis Bank, L&T top losers

Also read: Stock in news: Bharti Airtel, Adani Power, Bajaj Electricals, Welspun, HDFC and others

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