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Market Now: PSU bank stocks fall ahead of Union Budget

NEW DELHI: PSU bank stocks Canara Bank (down 0.51 per cent), Andhra Bank (down 0.48 per cent), State Bank of India (down 0.32 per cent), Union Bank of India (down 0.26 per cent), Bank of Baroda (down 0.19 per cent), Syndicate Bank (down 0.14 per cent), Bank of India (down 0.13 per cent) and Oriental Bank of Commerce (down 0.04 per cent) were trading down ahead of Union Budget 2018.

The budget may see some announcement related to final blueprint and roadmap of PSU bank recap plan and steps to improve the bank's efficiency.

The Nifty PSU Bank index was trading 0.08 per cent down at 3679 around 10:45 am (IST).

Shares of IDBI Bank (up 0.58 per cent), Punjab National Bank (up 0.20 per cent) and Allahabad Bank (up 0.07 per cent) were marginally up around that time.

Benchmark NSE Nifty50 index was up 42 points at 11,069.

Among the 50 stocks in Nifty index, 32 were trading in green, while 18 were in red.

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