Nifty Bank index has corrected 16 per cent since the start of the West Asia war on February 28, 2026
Investor sentiments continued to be in a risk-off mood after Iran widened its warnings to target buyers of US Treasury bonds, as the Trump administration's 48-hour ultimatum neared expiry
All the PSU Bank index constituents were trading lower, with Bank of India, Bank Maharashtra, Indian Bank, Bank of Baroda, and Union Bank of India falling in the range of 3 to 7 per cent
Indian Overseas Bank posted a 63 per cent rise in net profit in the December quarter, supported by higher operating income, strong credit growth and a sharp improvement in asset quality
Union Bank of India surged 8%, while Bank of Maharashtra, Indian Bank, Indian Overseas Bank and Punjab & Sind Bank were up 4% each on the NSE in intra-day trade.
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At 11:39 AM on Wednesday; the Nifty PSU Bank index was the top gainer among sectoral indices, up 1.8 per cent at 8,581.65, as compared to 0.5 per cent rise in the Nifty 50.
Government proposes to sell up to 38,51,31,796 shares or 2 per cent of equity on December 17, 2025, for non-retail investors and on December 18, 2025, for retail investors, under the 'Base offer'.
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The Centre will sell a base tranche of 2 per cent, or about 385.1 million shares, with an option to offload an additional 1 per cent, or 192.5 million shares, through a green shoe option
State-run banks, SBI, Uco bank, PSB among others gained up to 2% amid reports that India may considering allowing up to 49% FDI in PSU banks, more than double the current 20% cap.
We are targeting double-digit growth of 13-15 per cent in the next two years, and in the last two years, we have grown more than that, says IOB MD & CEO
Technical charts flag up to 22% downside risk for PSU bank shares such as Indian Overseas Bank, Uco Bank, Central Bank of India and Punjab & Sind Bank as government stake sale buzz looms.
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