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Quick Wrap: Nifty PSU Bank Index registers a drop of 5.00%, NIFTY Crashes 1.16%

Nifty PSU Bank index closed down 5.00% at 2871.45 today. The index has lost 13.00% over last one month. Among the constituents, Union Bank of India dropped 9.76%, Syndicate Bank slipped 8.96% and Canara Bank shed 8.32%. The Nifty PSU Bank index has increased 1.00% over last one year compared to the 3.16% spike in benchmark Nifty 50 index. In other indices, Nifty Pharma index has slid 4.37% and Nifty Media index has slid 3.78% on the day. In broad markets, the Nifty 50 has slid 1.16% to close at 11148.2 while the SENSEX has slid 0.99% to close at 37090.82 today.

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