Nifty PSU Bank Stocks Decline Amid Market Volatility

Strategic Insights -

Nifty PSU Bank stocks were trading lower at 11:50AM on Tuesday, with Bank of Baroda leading the decline at 2.47 per cent. The Nifty PSU Bank index was trading 0.47 per cent down at 1431.15, while the benchmark NSE Nifty 50 index was up 59.40 points at 11329.55. Amid the market fluctuations, Bank of India, Union Bank of India, Punjab National Bank, and UCO Bank also experienced significant declines.

Key Takeaways:

  • Bank of Baroda's shares declined by 2.47 per cent, leading the losses among Nifty PSU Bank stocks.
  • Indian Bank, Central Bank of India, and State Bank of India were among the top gainers, with their shares increasing by 0.75 per cent, 0.56 per cent, and 0.31 per cent, respectively.
  • The Nifty PSU Bank index was trading 0.47 per cent down at 1431.15, with 32 stocks in the Nifty index trading in the green and 17 in the red.
  • Vodafone Idea, SAIL, YES Bank, ITC, and Tata Motors were among the most traded shares on the NSE, while Vaibhav Global, Rossari Biotech Ltd., GMM Pfaudler, JSPL, and Hathway Cable hit fresh 52-week highs and lows, respectively.
  • Shares of J & K Bank, Bank of Maharashtra, and Union Bank of India were the top gainers among PSU banks, with their shares increasing by 1.15 per cent, 0.42 per cent, and 0.56 per cent, respectively.

Statistics:

  • Nifty PSU Bank index: 0.47 per cent down at 1431.15
  • Benchmark NSE Nifty 50 index: 59.40 points up at 11329.55
  • BSE Sensex: 236.62 points up at 38418.7
  • Total stocks in the Nifty index: 50
  • Stocks trading in the green: 32
  • Stocks trading in the red: 17
  • Top losers: Bank of Baroda, Bank of India, Union Bank of India, Punjab National Bank, and UCO Bank
  • Top gainers: J & K Bank, Indian Bank, Central Bank of India, Bank of Maharashtra, and State Bank of India

Sources:

  • Times of India
  • NSE Nifty 50 index
  • BSE Sensex
  • NSE website
  • Times content website (for reprint rights)