Market Now: PSU bank stocks incur losses; BoB down 2%

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NEW DELHI: The Nifty PSU Bank index was trading 0.70 per cent down at 2,688 around 10:20 am on Friday with all components in the red.

Bank of Baroda (down 1.92 per cent), Syndicate Bank (down 1 per cent) and Union Bank of India (down 1 per cent) were the top losers in the PSU bank index.

Shares of Oriental Bank of Commerce, Bank of India, State Bank of India and Andhra Bank declined up to 1 per cent.

Canara Bank, Punjab National Bank, IDBI Bank, Indian Bank and Allahabad Bank were trading with tepid losses.

Equity benchmarks were trading in the negative territory on unabated foreign fund outflows and surging global crude oil prices.

The rupee depreciating against the US dollar also affected momentum.

The NSE Nifty50 index was down 36 points at 10,646, while the BSE Sensex was 140 points down at 35,009.

Among the 50 stocks in the Nifty index, 19 were trading in the green, while 29 were in the red.

Bharti Airtel, Wipro and UltraTech Cement were the top losers in the Nifty index.

Source: Economic Times