New Delhi, May 6 -- The Nifty Bank index has been underperforming the Indian stock market benchmark, the Nifty 50, for the past five sessions. On Tuesday, May 6, the Nifty Bank index fell by nearly 1 per cent in intraday trade, while the Nifty 50 declined by about 0.40 per cent. Last week, the equity benchmark gained 1.28 per cent, whereas the Nifty Bank underperformed with a gain of just 0.83 per cent.

The Bank Nifty has declined in seven of the last nine sessions. After posting strong gains of 7 per cent each in March and April, the index has fallen over 1 per cent so far in May due to profit booking.

(This is a developing story. Please check back for fresh updates.)

Published by HT Digital Content Services with permission from MINT....