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.

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.

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