Nifty PSU Bank Index Falls 1.35% as Bank of India, Union Bank, Canara Bank Lead Losers
- July 8, 2026
- Posted by: Kunal Singla
- Category: News
Nifty PSU Bank index down 1.35% at 8,185.95 on 8 Jul 2026. Bank of India top loser, down 2.53%. Union Bank, Canara Bank, PNB, Bank of Baroda also fall over 1 percent intraday.
The Nifty PSU Bank index fell 1.35 percent to 8,185.95 in intraday trade on Wednesday, 8 July 2026, as public sector banking stocks came under broad based pressure amid weak global cues. Bank of India, Union Bank of India and Canara Bank emerged among the sharpest losers on the index.
The Nifty PSU Bank index opened at 8,238 and slipped to a low of 8,184.80, tracking a soft start across the broader market after fresh US strikes on Iran lifted oil prices and the dollar overnight.
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Nifty PSU Bank Index: Top Intraday Losers Today
The table below lists the Nifty PSU Bank index constituents that fell the most in early trade on 8 July 2026:
| Company | CMP | Change |
|---|---|---|
| Bank of India | Rs 138.80 | -2.53 percent |
| Union Bank of India | Rs 158.40 | -1.66 percent |
| Canara Bank | Rs 123.20 | -1.46 percent |
| PNB | Rs 102.15 | -1.58 percent |
| Bank of Baroda | Rs 244.05 | -1.53 percent |
| UCO Bank | Rs 26.06 | -1.29 percent |
| SBI | Rs 1,022.90 | -1.46 percent |
| Punjab and Sind Bank | Rs 24.50 | -1.09 percent |
| Central Bank of India | Rs 31.95 | -0.56 percent |
| Indian Bank | Rs 785.70 | -0.03 percent |
| Indian Overseas Bank | Rs 33.90 | -0.38 percent |
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Why Is the Nifty PSU Bank Index Under Pressure Today
The broad decline in the Nifty PSU Bank index mirrors weakness across Asian and Indian equities, after the US resumed airstrikes on Iran and reimposed crude sales sanctions, lifting oil prices and the dollar. A stronger dollar and firmer rate hike bets typically weigh on rate sensitive sectors such as banking.
Bank of India led the Nifty PSU Bank index lower with a 2.53 percent drop, followed by Union Bank of India and Canara Bank. Among the pack, Indian Bank and Indian Overseas Bank showed relative resilience, slipping less than half a percent.
What Should Investors Watch in the Nifty PSU Bank Index
Investors tracking the Nifty PSU Bank index should watch crude oil trends, the dollar index and Q1 FY27 earnings from PSU lenders in the coming weeks. Asset quality, credit growth and deposit mobilisation will remain the key fundamentals to track beyond the day’s volatility.
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Conclusion
The Nifty PSU Bank index dropped 1.35 percent to 8,185.95 on 8 July 2026, with Bank of India, Union Bank of India and Canara Bank leading the fall amid weak global cues from the US Iran conflict. Investors should track crude prices and Q1 FY27 results, and consult a SEBI registered advisor before trading PSU bank stocks.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions FAQs
Why did the Nifty PSU Bank index fall today?
Ans. The Nifty PSU Bank index fell 1.35 percent on 8 July 2026, tracking broad market weakness after US strikes on Iran lifted oil prices and the dollar, pressuring rate sensitive sectors.
Which PSU bank stock fell the most today?
Ans. Bank of India was the top loser on the index, falling 2.53 percent to Rs 138.80 in intraday trade on 8 July 2026.
What level is the Nifty PSU Bank index trading at today?
Ans. The Nifty PSU Bank index was trading at 8,185.95 on 8 July 2026, down 1.35 percent from the previous close of 8,298.30.
Which PSU banks showed relative resilience today?
Ans. Indian Bank and Indian Overseas Bank held up better than peers, slipping less than half a percent while most other PSU banking stocks fell more than 1 percent.
What is the SBI share price today?
Ans. State Bank of India shares were trading around Rs 1,022.90, down 1.46 percent, on 8 July 2026.
Should investors buy PSU bank stocks after today’s fall?
Ans. A single day decline is not a buy signal on its own. Investors should evaluate asset quality, credit growth and Q1 FY27 results, and consult a SEBI registered investment advisor before investing.
