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Nifty PSU Bank index hits 52-week low

IDBI Bank, BOB, PNB, Oriental Ban, Syndicate Bank, Union Bank and Allahabad Bank were down over 3% each.

Nifty PSU Bank index hits 52-week low

Bank shares were under pressure with the Nifty PSU Bank index hitting a 52-week low, while Nifty Bank index dipped more than 2% on the National Stock Exchange (NSE). IDBI Bank, Bank of Baroda, Punjab National Bank (PNB), Oriental Bank of Commerce, Syndicate Bank, Allahabad Bank and Union Bank of India from the public sector undertakings (PSUs) were down more than 3% each. ICICI Bank, State Bank of India (SBI), Yes Bank, Kotak Mahindra Bank, Axis Bank, Bank of India and IndusInd Bank down 2%-3% on the NSE. At 11:51 a.m. Nifty Bank index was down 2.2% or 375 points at 16,664 as ...