NEW DELHI: Most PSU bank stocks were incurring losses in morning session of trade on Friday.The Nifty PSU Bank was trading 0.83 per cent down at 3,267.75 around 10:27 am, with Union Bank of India (down 2.93 per cent) and Bank of India (down 2.65 per cent) as the top losers.
Canara Bank (down 1.97 per cent), Oriental Bank of Commerce (down 1.71 per cent), Syndicate Bank (down 1.60 per cent), Indian Bank (down 1.45 per cent), Bank of Baroda (down 1.10 per cent) and Allahabad Bank (down 1.08 per cent) fell over 1 per cent.Punjab National Bank (PNB) (down 0.94 per cent), Andhra Bank (down 0.75 per cent) and State Bank of India (SBI) (down 0.75 per cent) too found themselves among the losers.
Market erased the entire gains of early session as caution crept in ahead of Q1 GDP numbers.
Weak Asian peers offered no hope, while Indian rupee extended its fall against the US dollar.Asian stocks declined after reports emerged that Trump administration was preparing to impose fresh tariffs on Chinese imports.
Benchmark NSE Nifty50 index was flat at 11,678.4, while the BSE Sensex was 17.27 points at 38,672.83.
Among the 50 stocks in the Nifty index, 30 were trading in the green, while 20 were in the red.