Nifty PSU Bank index hits 8-month low; down 7% in one week

At 02:25 PM; Nifty PSU Bank index was down 2.8% as compared to 1.2% decline in Nifty 50 index.

Shares of public sector banks (PSBs) continued to trade under pressure with Nifty PSU Bank index falling 7% in the past one week on concerns of the growth slowdown.

At 02:25 PM; Nifty PSU Bank index, the largest loser among sectoral indices, was down 2.8% at 3,034, as compared to 1.2% decline in the benchmark Nifty 50 and 1.7% fall each in Nifty Bank and Nifty Private Bank index.

Nifty PSU Bank index hit its eight-month low of 3,030 on the National Stock Exchange (NSE) in intra-day trade. The index was trading at its lowest level since January