Public sector banks witnessed a sharp sell-off in the markets today, with major PSU banking stocks plunging after four consecutive days of gains. Investors turned cautious following news of the first Human Metapneumovirus (HMPV) case detected in Bengaluru amid reports of a virus outbreak in China. The S&P BSE BANKEX Index dropped 1.5%, reflecting the pressure on the sector.
Key Performers in the PSU Bank Sector:
| Scrip | BSE Price (₹) | NSE Price (₹) | % Change (NSE) |
|---|---|---|---|
| Bank of Baroda | 229.85 | 229.99 | -4.82% |
| Bank of India | 101.15 | 101.01 | -3.54% |
| Bank of Maharashtra | 53.32 | 53.30 | -3.32% |
| Canara Bank | 98.10 | 98.16 | -3.24% |
| Central Bank | 53.18 | 53.22 | -3.43% |
| IDBI Bank | 75.21 | 75.27 | -2.90% |
| Indian Bank | 508.25 | 507.70 | -3.18% |
| Indian Overseas Bank | 51.36 | 51.31 | -3.37% |
| PNB | 102.50 | 102.55 | -3.62% |
| Punjab & Sind Bank | 47.90 | 47.91 | -2.72% |
| SBI | 783.00 | 783.90 | -1.20% |
| UCO Bank | 43.45 | 43.41 | -3.45% |
| Union Bank | 115.70 | 115.75 | -6.70% |
Index Movement:
- S&P BSE BANKEX: Down 1.5% at 57,057.1. The index has declined 3.8% over the last 30 days but gained 6.2% over the past year.
- S&P BSE SENSEX: Down 1.2% at 78,285.9.
The PSU banking sector remains under selling pressure as the markets react to global concerns and local developments. Analysts expect near-term volatility, and all eyes remain on upcoming economic data and global trends.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
