Union Bank of India Declined Up To 1 Per Cent
On Friday, during the morning trading session, most PSU bank stocks were trading marginally lower. Union Bank of India, Andhra Bank and Syndicate Bank declined up to 1 per cent. Apart fron Union Bank of India, there were other stocks that also declined by slight margins. Bank of Baroda, Allahabad Bank, IDBI Bank, Bank of India, Indian Bank and Canara Bank were among them.
Shares of Oriental Bank of Commerce and State Bank of India too were lacklustre.
However, the fall of Nifty PSU Bank index was restricted by gains in Punjab National Bank. The index was trading 0.06 per cent down at 3,236 around same time.
Domestic market was in a cautious mood, tracking global cues as US-China trade talks ended without any major breakthrough.
The two-day talk between the US and Chinese officials ended without any solution to the trade dispute.
Out of 50 stocks in the Nifty index, 23 were trading in the green, while 26 were in the red.