Nifty PSU Bank Index Falls 1.35% as Bank of India, Union Bank, Canara Bank Lead Losers

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.

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.