📉 Stock Market Crash: 9 PSU Bank Stocks Hit 52-Week Lows as Selling Pressure Mounts
Public sector banks faced intense selling pressure on Monday, with nine PSU bank stocks plunging to their 52-week lows, including State Bank of India (SBI), Bank of Baroda (BoB), and Punjab National Bank (PNB).
🔻 Key Declines:
- SBI slipped 1.24% to ₹679.65
- Bank of Baroda dropped 2.3% to ₹197.70
- PNB hit a 52-week low of ₹85.51
- Canara Bank fell to ₹78.58
- Indian Overseas Bank plunged 5.6% to ₹41.10
- Bank of Maharashtra declined 5.2% to ₹43.97
📊 The Nifty PSU Bank index tumbled 2.15%, with Punjab & Sind Bank, UCO Bank, and Central Bank of India leading losses, each shedding around 5%. Market experts cite FII outflows, global uncertainties, and weak banking sector sentiment as key reasons for the downturn.
