PSU shares fell 15%, Bank Nifty shed 10.49%

New Delhi:

Shares of public sector companies and state-owned banks fell by up to 15 percent on Tuesday. is

The Nifty PSU Bank index was down 839.55 points or 10.49 percent to settle at 7,166.60. Shares of Punjab and Sindh Bank fell 14.75 percent on the NSE to Rs. 55.50. Shares of Indian Bank were trading with a decline of Rs.528.75 and shares of Union Bank were trading with a marginal decline of Rs.148.90.

Apart from this, shares of public sector State Bank of India (SBI) fell by 11.73 percent to Rs. 799.45 and shares of Bank of Baroda were Rs. 123.30 and Rs. 267.25 rose 2,806.40 points or 5.50 percent to 48,173.55.

The Nifty PSE index was also trading down 1,221.55 points or 10.78 percent at 10,110.25. In this, shares of Bharat Electronics Limited (BEL), PFC, RECL and Bharat Heavy Electricals fell by 15 percent.

On the NSE, shares of Hindustan Aeronautics, Container Corporation of India, ONGC, Coal India, NTPC, Gas Authority of India, SAIL and Power Grid also fell by 10 percent each.

The 50-share NSE Nifty closed down 1,371.85 points, or 5.9 per cent, at 21,892.05 in the previous session.

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