Nifty PSU Bank Index Down by More Than 1% Today
By Ankur Chandra | Published at: Jun 13, 2025 07:42 PM IST
Mumbai, June 13, 2025 (12:30 PM IST): The Nifty PSU Bank index continued to face significant selling pressure by midday, slipping 1.22% to 6,931.70 as of 12:35 PM on June 13th. This marks a retreat of nearly 27.45 points from its intraday high of 6,959.15, hit earlier in the session. All 12 constituent stocks were trading in the red, underlining broad-based selling across the public sector banking space, today.
The index had initially opened on a weak note at 6,832.95, reflecting the broader market’s cautious sentiment amidst escalating Middle East tensions. It briefly gained some strength to touch its day’s high, but those gains were quickly gone as profit-booking intensified across the financial sector, exacerbated by global risk aversion.
The Nifty PSU Bank index declined 1.22% from its day’s high as heightened geopolitical tensions triggered a risk-off sentiment, resulting in broad-based selling in financials. Rising crude prices and global uncertainty have raised concerns over inflation and fiscal pressure, which typically weigh on public sector lenders.
Nifty PSU Bank Index Performance (as of 12:35 PM IST)
| Metric | Value |
|---|---|
| Opening Level | 6,832.95 |
| Day’s High | 6,959.15 |
| Current Level | 6,931.70 |
| Previous Close | 7,017.50 |
| Change | -85.80 |
| % Change | -1.22% |
| 52-Week High | 7,569.25 |
| 30-Day Gain | +6.77% |
| 1-Year Performance | -5.55% |
The reversal from the intraday high of 6,959.15 to 6,931.70 signals selling pressure despite early gains, with investors likely booking profits on recent upswings.
Top PSU Bank Movers (as of 12:30 PM IST)
| Bank | Last Price (₹) | % Change | 30D Return | 1Y Return |
|---|---|---|---|---|
| State Bank of India | 792.20 | -1.71% | +0.52% | -3.95% |
| Canara Bank | 111.28 | -3.77 | +10.36% | -5.82% |
| Union Bank of India | 147.14 | -2.23% | +15.09% | +2.12% |
| Punjab National Bank | 106.74 | -1.18% | +10.59% | -15.27% |
| Indian Bank | 623.40 | -0.27% | +7.62% | +16.12% |
| Bank of Baroda | 238.38 | -0.95% | +3.40% | -15.08% |
Despite strong 30-day momentum, the Nifty PSU Bank index’s inability to sustain above the day’s high indicates a short-term fatigue in the rally.
Market Status (as of 12:30 PM IST)
The Nifty 50 index was down 0.80%, or 198.50 points, at 24,689.70 as of around 12:30 P.M. Broader market sentiment remained weak, with financials, banks, and autos experiencing profit-taking. PSU banks, in particular, saw no advances across the board-all 12 constituents declined, making it one of the worst-performing sectoral indices of the session so far.
Future Outlook
In the near term, the Nifty PSU Bank index is likely to remain under pressure as geopolitical uncertainties and elevated crude oil prices continue to focus attention on inflation and fiscal concerns. While recent 30-day returns indicate underlying strength, the sector may see further consolidation unless global cues stabilise. Analysts suggest watching key support near 6,880—if breached, it could trigger deeper corrections. However, long-term fundamentals for select PSU banks remain intact, supported by credit growth and improved asset quality.
About the Index
The Nifty PSU Bank index reflects the performance of 12 major government-owned banks listed on the National Stock Exchange. It serves as a benchmark for investor sentiment in the Indian public banking sector, often influenced by fiscal policy, credit offtake, and recapitalisation trends.
Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.
If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.
Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations
