Stock market update: Nifty Bank index falls 0.86%

On the other hand, Federal Bank Ltd.(down 1.92 per cent), State Bank of India(down 1.64 per cent), Axis Bank Ltd.(down 1.32 per cent), HDFC Bank Ltd.(down 1.14 per cent) and Punjab National Bank(down 1.07 per cent) finished as the top losers of the day.

The Nifty Bank index closed 0.86 per cent down at 48564.55.

Benchmark NSE Nifty50 index ended down 234.4 points at 22519.4, while the BSE Sensex stood down 793.25 points at 74244.9.

Among the 50 stocks in the Nifty index, 7 ended in the green, while 43 closed in the red.

Shares of Vodafone Idea, YES Bank, SAIL, Reliance Power and BEL were among the most traded shares on the NSE.

Shares of Krystal Integrated, Nandan Denim, D P Abhushan, Yuken India and Puravankara hit their fresh 52-week highs in today's trade, while Sinclairs Hotel, Best Agrolife, HUL, Dabur India and MEP Infrastructure hit their fresh 52-week lows.