PSU bank stocks decline after FDI limit clarification
after close1 source ↓written by the desknot a recommendation
- Bank index dropping
- 2.2%
- after the Finance
- 8,327.25
- decline
- 5%
- 3.5%
PSU bank stocks fell sharply on 03 Dec 2023, with the Nifty PSU Bank index dropping 2.2% to 8,327.25 after the Finance Ministry confirmed no plans to raise the FDI limit in banking. Major losers included Indian Bank with a 5% decline and PNB down 3.5%. This news raises concerns about future consolidation in the sector.
Not investment advice. For informational purposes only.