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On the technical charts, the RSI of the stock stood at 52.25.

The Nifty Bank index closed 0.73 per cent up at 40323.65.

IRB Infrastructure continued to fly high along with Rail Vikas Nigam. Investors are focusing on September quarter performance, following which IIFL Wealth and South Indian Bank were hit hard.

"Clearly the market is telling us that a sectoral rotation seems to be taking place. Now financials, not just in the last week or 10 days, but over a little extended time horizon, have been underperformers relative to the rest of the market, on the back of the second Covid wave and lockdown."

A total of 265,206 shares changed hands on the counter till 01:58PM (IST).

During the four-day sell-off in the market, investors’ notional wealth has declined by Rs 10.3 lakh crore.

In the international market, gold was trading in the green at USD 1,794 per ounce and silver was flat at USD 24.35 per ounce.

“Overall market levels are significantly at a premium to current values. The markets are pricing in much lower levels of interest rates for a fairly long period of time. So either the interest rates have to remain low and growth rates have to adjust downwards or vice-versa. In either case the markets then have to reduce valuations.”

The private sector lender is likely to report a 19.7 per cent year-on-year growth in net profit to Rs 5,086.7 crore for the quarter ended September.

On a sequential basis, while sales may rise 4 per cent, profit may see a degrowth and margins may fall, analysts said.