PSU banks decline up to 5% as bond yields surge
after close1 source ↓written by the desknot a recommendation
- declines
- 5%
- rose sharply
- 6.9%
- to ₹259.5
- 4.8%
- Bank dropped
- 4%
- others down between
- 2% and 3.5%
PSU banks, including Bank of Baroda and Canara Bank, faced heavy selling on 27 Mar, with declines up to 5%. The Indian 10-year bond yield rose sharply to 6.9%, its highest since July 2024, driven by fiscal pressures and energy shocks. This has raised concerns over fiscal sustainability, impacting investor sentiment.
• Bank of Baroda fell 4.8% to ₹259.5
• Other banks like UCO Bank and Punjab National Bank dropped over 4%
• Broader sell-off saw SBI and others down between 2% and 3.5%
Not investment advice. For informational purposes only.