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PSU Bank index hits loss; PNB, J&K bank drop

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Shares of PSU Banks were trading under stress during Thursday’s session with all the components in the red. The Nifty PSU Bank index declined 2.89% to 3,009.45 on the NSE amid heavy selling pressure seen in Punjab National Bank (PNB) Jammu&Kashmir Bank, CanaraBank and Indian Bank.

PNB and J&K Bank and slipped more or less 6% on the NSE, followed by Canara bank and Indian bank  which slipped near 4.55% each.

Union Bank, OBC, , Bank of India and AllahabadBank were also featured among falling components upto 3.9% in range.

Meanwhile, key benchmark indices extended losses with Nifty falling 86pts down at 11,820 marks. The Sensex fall 285pts at 39,471 levels at the mid noon at 12.02 hours.