Nifty trades below 22,550; PSU bank share decline

The domestic equity benchmarks traded with major cuts in the mid-afternoon trade. The Nifty traded below the 22,550 mark. PSU bank shares declined after advancing in the past trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex tanked 299.14 points or 0.41% to 72,948.97. The Nifty 50 index lost 152 points or 0.68% to 22,536.70.

In the broader market, the BSE 150 MidCap Index declined 2.31% and the BSE 250 SmallCap Index fell 2.57%.

Sellers outnumbered buyers. On the BSE, 755 shares rose and 3,569 shares fell. A total of 210 shares were unchanged.

Buzzing Index:

The Nifty PSU Bank index fell 2.39% to 8,059.75. The index rose 0.07% in the past trading session.

Punjab & Sind Bank (down 7.67%), Indian Overseas Bank (down 4.02%), Canara Bank (down 3.96%), UCO Bank (down 3.95%), Bank of Maharashtra (down 3.61%), Bank of India (down 3.55%), Central Bank of India (down 3.5%), Bank of Baroda (down 2.32%), Punjab National Bank (down 2.08%) and Indian Bank (down 2.04%) fell.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.23% to 7.479 compared with the previous session close of 7.462.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 94.9450 compared with its close of 94.8100 during the previous trading session.

MCX Gold futures for the 4 December 2026 settlement fell 0.38% to Rs 1,42,764.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.19% to 101.80.

The United States 10-year bond yield rose 0.55% to 4.976.

In the commodities market, Brent crude for the December 2026 settlement jumped 32 cents or 0.28% to $113.49 a barrel.

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