Mumbai: The banking stocks today plunged over 4 percent in the early morning trade on the Bombay Stock Exchange, ahead of Reserve Bank's quarterly monetary policy review meeting amid concerns among bankers about the measures the apex bank will undertake.

Mirroring the fall in the bank stocks the bankex opened at 5,183.86 point, down 2.57 percent from its previous close. It dipped 4.08 percent to a low of 5,103.69 points. It was later quoted at 5124.03 at 10:52 hrs on BSE.

Country's largest lender State Bank of India lost 6.40 percent to touch an intra-day low of Rs 1,239.50. It was later trading at Rs 1242, down 6.21 percent on the BSE.

Meanwhile, other PSU lenders such as Punjab National Bank was down 3 percent, Union Bank 2.69 percent, Bank of India 4.62 percent.

Among the private sector entities, country's second largest lender ICICI Bank dipped 4.25 percent to an intra-low of Rs 350. It was later trading at 362.90. Besides, HDFC Bank was down 6.62 percent at Rs 1,001.

Further, Axis Bank was down 5 percent at Rs 591, IDBI was down 0.44 per cent and Yes Bank 3.25 percent at Rs 73 on the BSE.

Source : PTI