NEW DELHI: Most PSU bank stocks were reeling under selling pressure in Tuesday's trading session.The Nifty PSU Bank index was trading 1.33 per cent down at 3,280 around 10:30 am with all components in the red.
Andhra Bank (down 2.78 per cent), Oriental Bank of Commerce (down 2.37 per cent) and Syndicate Bank (down 2.04 per cent) were the top losers in the PSU bank index.Shares of Canara Bank (down 1.94 per cent), Allahabad Bank (down 1.94 per cent), Union Bank of India (down 1.77 per cent), Bank of Baroda (down 1.76 per cent), IDBI Bank (down 1.74 per cent) and Bank of India (down 1.64 per cent) cracked up to 2 per cent.State Bank of India (SBI) (down 1.10 per cent), Indian Bank (down 0.73 per cent) and Punjab National Bank (PNB) (down 0.72 per cent) declined up to 1 per cent.Market was fluctuating between gains and losses.
Gains in heavyweights such as Infosys, Asian Paints and HDFC Bank were offset by losses in Reliance Industries, Adani Ports and Tata Consultancy Services.Benchmark NSE Nifty50 index was 4 points down at 11,384, while the BSE Sensex was 9 points down at 37,683.
Among the 50 stocks in the Nifty index, 24 were trading in the green, while 26 were in the red.
Cambridge Technology Enterprises, Salora International, Tejas Networks and Biofil Chemicals Pharmaceuticals hit 52-week lows on NSE.