Nifty PSU Bank index hits lowest level in 15 years; SBI at 4-year low

In past one month, the Nifty PSU Bank index underperformed the market by falling 20 per cent, as compared to 3.7 per cent decline in the Nifty 50 index.

Shares of public sector undertaking (PSU) banks were under pressure on Tuesday, with the Nifty PSU Bank index hitting an over 15-year low on the National Stock Exchange (NSE). At 02:21 pm, the Nifty PSU Bank index was the top loser among sectoral indices, down 1.7 per cent at 1,097 points, as compared to a 1 per cent rise in the Nifty 50 index. The PSU Bank index hit an intra-day low of 1,088, its lowest level since November 22, 2004 on closing basis.

In the past month, the Nifty PSU Bank index has underperformed the market by falling 20