SBI, PNB, BoB slip up to 4% as US-Iran tension push bond yields higher

Apart from higher yields, the mood at the financial counters was dampened on the report that the government may not propose fresh capital infusion under Union Budget 2020.

Banking counters, including Punjab National Bank, Bank of Baroda, State Bank of India, and Canara Bank slipped over 4 per cent on the National Stock Exchange (NSE) in the early deals on Monday as heightened tensions between the United States and Iran pushed bond yields higher in India.

US President Donald Trump on Sunday vowed "major retaliation" if Iran tried to avenge the death of its key military commander Qasem Soleimani, who was killed by the US military on Friday. In response, Tehran decided to "abandon the limits, imposed on it, under the 2015 nuclear deal". READ MORE