SBI, PNB, Axis Bank — Bank Stocks Decline, Nifty Bank Down 0.5% After RBI Cuts Repo Rate

Most bank stocks fell on Friday soon after the Reserve Bank of India reduced the repo rate by 25 basis points. The Nifty Bank dropped 0.5% to around 50,150 level, with three advances and nine declines.

State Bank of India shares fell nearly 2%, followed by over 1% declines in Bank of Baroda,…