PSU Bank extends fall; 11 out of 22 banks hit 52-week lows

In past four trading sessions, the Nifty PSU Bank index slipped 10% against 1.4% decline in the benchmark index.

Shares of public sector banks were continue under pressure with the 11 out of 22 listed state-owned bank hit their respective 52-week lows on the BSE as financials succumbed to selling pressure on worries of the Rs 114 billion fraud case at Punjab National Bank (PNB).

Including PNB, Allahabad Bank, Bank of Maharashtra, Corporation Bank, Dena Bank, Oriental Bank of Commerce, Punjab & Sind Bank, Syndicate Bank, UCO Bank, Union Bank of India and Untied Bank of India have hit their respective 52-week low on the BSE in intra-day trade on Monday.

At 10:23 am; Nifty PSU Bank