Nifty PSU Bank set to end 2020 as top laggard
Dec 28, 03:12

While the market benchmark Nifty and most other sectoral indices look set to end the calendar year 2020 with gains, the Nifty PSU Bank index is on course to wind up the year with deep cuts. Year-to-date, Nifty is up about 12 percent while the Nifty PSU Bank index is down 34 percent. Shares of Punjab National Bank, Canara Bank, Union Bank of India, Bank of Baroda and Bank of India have been among the top laggards so far this year. Uncertainty over asset quality, higher slippages and loss of market share to their large private peers were the reasons that kept PSU bank stocks under pressure in CY20.

Nifty PSU Bank Performance