After the PSU index, the banking sector index was the biggest loser on Friday. The BSE Bankex was down 312.68 points to 2,639.98. The fall was witnessed in both public and private banks as investors worried over the fate of reforms in the banking sector.‘‘Reforms for public and private sector banks are pending. Also, the decision to remove the 10 pc cap on investor voting rights in private sector banks awaits clearance. The 10 pc restriction on voting rights is seen as a key hurdle to consolidation in the sector. Furthermore, legislation to allow the government to bring down its stake in state-run banks to 33 pc is awaiting parliamentary approval for the past two years,’’ said BSE dealer Venkat Aiyar. The major losers include SBI, BoB, PNB, Corporation Bank (down 17 pc to Rs 291), Andhra Bank (down 18 pc to Rs 46) and Indian Overseas Bank (down 20 pc to Rs 45.15). —(ENS)
