Stock market update: PSU bank stocks suffer strong losses
PSU bank stocks were suffering strong losses during Tuesday’s session.
Shares of PSU bank stocks came under pressure even as the government proposed the merger of three banks — Bank of BarodaNSE -16.38 %, Vijaya Bank and Dena Bank — aimed at creating the country’s third-biggest lender. The boards of the three banks will now consider the proposal.
The Nifty PSU Bank was trading 3.87 per cent down at 2,938 around 1 pm with all components in the red
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