The shares of several public sector banks, including SBI, PNB, Bank of Baroda and others have sharply fallen from their record highs which they had hit in January-February this year, as the raging US-Iran war, weakening rupee and other factors dampened sentiment.
The Nifty PSU Bank index has fallen over 17% after hitting a fresh 52-week high of 9,919 in February this year. SBI, Bank of Baroda, Union Bank of India, Punjab National Bank (PNB) and other stocks tumbled around 17-21% from their record highs hit earlier this year.
