Shares of state-owned banks plummet up to 9 pc

Shares of state-owned banks plunged up to 9 per cent today, mainly weighed down by PNB, amid profit-booking in line with a weak stock market.

PNB tanked 8.82 per cent, Bank of Baroda 8.63 per cent and SBI 6.51 per cent on BSE.

Canara Bank plunged 5.93 per cent, State Bank of Mysore 5.81 per cent and Allahabad Bank 4.76 per cent.

Since the announcement, these stocks had gained substantial ground.

People have exchanged and deposited over Rs 5.44 lakh crore worth of scrapped Rs 500/1,000 notes at different banks till November 18 following demonetisation of the higher denomination currency.
 

The banks also disbursed Rs 1,03,316 crore over the counter and via ATMs between November 10 and 18, the Reserve Bank said in a statement.