Home Market Market Now: PSU Bank stocks fall; PNB, Union Bank down 2%

Market Now: PSU Bank stocks fall; PNB, Union Bank down 2%

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NEW DELHI: Most of the PSU bank stocks were trading down in morning trade on Friday, keeping the Nifty PSU Bank index in the red.

The Nifty PSU Bank index was trading 0.87 per cent down at 3,242 around 10:15 am (IST) with Punjab National Bank (down 2.26 per cent), Union Bank of India (down 1.75 per cent) and Syndicate Bank (down 1.06 per cent) as the top laggards.

Shares of Bank of India (down 1.05 per cent), Bank of Baroda (down 0.94 per cent), State Bank of India (down 0.75 per cent), Allahabad Bank (down 0.36 per cent) and Andhra Bank (down 0.21 per cent) were also down in the index.

Oriental Bank of Commerce (up 1.81 per cent) was the only stock in the Nifty PSU Bank index that was up around that time.

Equity markets were trading in the positive territory tracking global cues. Benchmark NSE Nifty50 index was 18 points up at 10,563, while the BSE Sensex was 60 points up at 34,357.

Among the 50 stocks in the Nifty index, 27 were trading in the green, while 23 were in the red.

HCL Tech, Ambuja Cements and Tata Consultancy Services were the top gainers in the Nifty pack of stocks.

Eicher Motors, Tech Mahindra and State Bank of India were the top losers in the Nifty50 index.

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