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Nifty PSU Bank index nears four-year low; six banks tumble to 5-year low

The fall comes amid weakening economic trends that can lead to subdued credit growth and continued elevated fresh stress formation in the immediate term.

Topics
Nifty PSU Bank | bank stocks | Markets Sensex Nifty

Deepak Korgaonkar & Puneet Wadhwa  |  Mumbai / New Delhi 

Public sector banks
Illustration by Binay Sinha

Shares of public sector banks (PSBs) continued to reel under pressure on Tuesday with the index nearing its four-year low level. The index hit intra-day low of 2,078.80, its lowest level since March 1, 2016, when it touched 2,053.60 levels in intra-day trade. It dipped below its previous low of 2113.05 levels hit on October 9, 2019. In past three trading days, index has slipped 7.9 per cent as against 2 per cent fall in the benchmark index.

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First Published: Tue, February 18 2020. 12:46 IST
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