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CNX PSU Bank index hit 15-month low

PNB, Oriental Bank, BOB, IDBI Bank, Canara Bank, Union Bank and BOI dipped more than 5% each on the NSE.

SI Reporter Mumbai
Last Updated : Sep 01 2015 | 4:08 PM IST
The CNX PSU Bank index, a gauge of public sector banks, hit a 15-month low on the National Stock Exchange (NSE) after Nikkei purchasing managers' index (PMI) data showed that factory production expanded at a lower pace in August compared to July.

Punjab National Bank, Oriental Bank of Commerce, Bank of Baroda, IDBI Bank, Canara Bank, Union Bank of India and Bank of India dipped more than 5% each, while State Bank of India (SBI), Allahabad Bank, Andhra Bank and Syndicate Bank down 3%-4% on the NSE.

At close, the CNX PSU Bank index was down 4.4% at 3,059 compared to 2.3% fall in the CNX Nifty. The PSU bank index hit a low of 3,043, its lowest level since May 9, 2014 during intra-day trade today.

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From its 52-week high, the CNX PSU Bank index has lost 31% as compared to 15% fall in the CNX Nifty.

PMI fell to 52.3 points in August against six-month high of 52.7 in July. But barring July, the reading in August is still the highest in six months. CLICK HERE TO READ FULL STORY

Growth in the manufacturing sector slowed down to 7.2% in the first quarter of the current financial year, April-June, against 8.4% in the previous quarter, January-March, data released on Monday showed. Besides, core sector, which constitutes almost 38% of the Index of Industrial Production (IIP), rose by a three-month low of 1.1% for July.

According to IFA Global, India's economy expanded 7% in the first quarter, well below expectations and slower than the preceding three-month period, putting a dent in the Modi government's optimism about a strong recovery.

India's Gross Value Added grew by 7.1% against the 6.1% in Jan-March quarter. The nominal GDP growth also remained weak at 8.8% against the 13.4% a year ago.


      52-week high 52-week low
Bank LTP* % fall # Price Date Price Date
Oriental Bank 127.00 -63.13 344.50 01/01/2015 125.10 25/08/2015
Bank of India 134.50 -56.88 311.95 02/01/2015 131.40 25/08/2015
United Bank (I) 21.45 -55.64 48.35 03/09/2014 20.45 25/08/2015
UCO Bank 42.75 -54.01 92.95 03/12/2014 40.85 25/08/2015
IOB 34.20 -48.46 66.35 15/09/2014 33.60 25/08/2015
Punjab & Sind Bank 36.50 -45.81 67.35 20/11/2014 35.05 25/08/2015
J & K Bank 96.80 -45.28 176.90 04/09/2014 88.05 24/08/2015
Central Bank 66.85 -44.57 120.60 24/02/2015 58.15 08/10/2014
Canara Bank 268.15 -43.98 478.65 28/01/2015 254.00 29/07/2015
Indian Bank 129.35 -42.32 224.25 01/01/2015 120.00 25/08/2015
Syndicate Bank 81.90 -42.04 141.30 05/12/2014 79.00 25/08/2015
Punjab National Bank 134.80 -41.63 230.95 19/12/2014 129.50 16/06/2015
Allahabad Bank 80.05 -41.44 136.70 05/12/2014 77.10 25/08/2015
Corporation Bank 46.25 -41.23 78.70 22/01/2015 45.45 25/08/2015
Dena Bank 41.05 -38.73 67.00 16/09/2014 39.55 25/08/2015
Andhra Bank 64.30 -36.31 100.95 01/01/2015 60.50 26/09/2014
Union Bank (I) 167.75 -33.83 253.50 27/01/2015 129.75 08/05/2015
Vijaya Bank 35.25 -33.80 53.25 01/01/2015 34.50 01/09/2015
IDBI Bank 57.05 -32.80 84.90 17/04/2015 52.30 25/08/2015
SBI 239.10 -28.84 336.00 28/01/2015 234.61 08/10/2014
Bank of Maha 34.70 -28.75 48.70 16/09/2014 32.50 25/08/2015
St Bk of Bikaner 509.55 -28.63 714.00 22/01/2015 476.50 24/08/2015
St Bk of Travancore 409.50 -25.49 549.59 15/01/2015 390.00 25/08/2015
Bank of Baroda 172.50 -24.64 228.90 23/01/2015 137.15 29/06/2015
             
*LTP : Last traded price in Rs
# Fall from 52-week high price


 

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First Published: Sep 01 2015 | 4:01 PM IST

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