Spillover effect: Axis Bank, ICICI Bank shares fall as investors give a thumbs down to HDFC Bank stock 

Shares of private sector lenders Axis Bank and ICICI Bank slipped up to 3.5% on Thursday as stock of their larger peer HDFC Bank tanked 9% following the sudden resignation of Atanu Chakraborty as the non-executive chairman of India's largest private lender. 

Axis Bank shares slipped 3.48% to Rs 1209.25 against the previous close of Rs 1252.90. Market cap of the bank fell to Rs 3.79 lakh crore. Total 2.76 lakh shares of the firm changed hands amounting to a turnover of Rs 33.68 crore.

Axis Bank stock has fallen 9.29 per cent in two weeks. The banking stock is down 12% this year.

The large cap stock is trading lower than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages. 

Subsequently, sentiment on the Bank Nifty turned extremely weak with the index crashing 2.52% or 1408.80 pts to 53,915. Bears took control of the banking index after global markets crashed on Iran and Israel conducting missile attacks on vital energy assets on both sides. 

On similar lines, ICICI Bank shares fell 2.58% to Rs 1256.65 in the afternoon session. Market cap of the firm stood at Rs 9.08 lakh crore. ICICI stock has fallen 7 per cent in two weeks. The stock is down 5% this year.

ICICI stock is trading lower than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages. 

The BSE bankex too tanked 1385 pts or 2.23% to 60,812. 

All components on BSE bankex and Nifty bank were trading in the red in afternoon session today.