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Market participants tracked movements in the rupee and crude oil prices, along with quarterly earnings announcements released over the weekend. Mixed global cues, sustained foreign institutional selling and ongoing geopolitical uncertainties added to the cautious undertone. Investors also remained focused on the September-quarter earnings season for fresh cues on corporate performance and the broader market outlook.
PSU Bank shares declined after advancing in the past trading session.
At 11:25 IST, the barometer index, the S&P BSE Sensex declined 494.21 points or 0.68% to 71,977.60. The Nifty 50 index dropped 121.45 points or 0.55% to 22,396.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 0.29% and the BSE 250 SmallCap Index jumped 0.99%.
The market breadth was positive. On the BSE, 2,301 shares rose and 1,797 shares fell. A total of 303 shares were unchanged.
Economy:
The Reserve Bank of India (RBI) has announced a special facility to meet the entire daily US dollar requirements of three public sector oil marketing companies – Indian Oil Corporation (IOCL), Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL). According to an RBI press release, the central bank will sell US dollars to the three companies through designated banks to meet their foreign exchange requirements. The facility will come into effect tomorrow and remain operational until further notice. The RBI said, the decision was taken following an assessment of prevailing market conditions and is aimed at facilitating the foreign exchange requirements of the three state-owned oil marketing companies.
The Reserve Bank of India (RBI) has raised the minimum daily Cash Reserve Ratio (CRR) maintenance requirement for scheduled banks to 99% from 90%, effective from the reporting fortnight beginning October 16, 2026. Under the existing framework, banks are required to maintain at least 90% of the prescribed CRR on a daily basis, provided their average daily balance over the reporting fortnight meets the CRR requirement stipulated by the RBI.
Buzzing Index:
The Nifty PSU Bank index declined 1.39% to 8,031. The index climbed 1.63% in the past trading sessions.
State Bank of India (down 1.64%), Punjab National Bank (down 1.32%), Union Bank of India (down 1.23%), Canara Bank (down 0.78%), Bank of India (down 0.75%), Indian Bank (down 0.74%), Bank of Baroda (down 0.68%), Indian Overseas Bank (down 0.46%), Punjab & Sind Bank (down 0.33%) and UCO Bank (down 0.13%) declined.
Global Market:
US stock futures pointed to a positive opening on Monday, with Dow futures rising 190 points. However, investors remained cautious ahead of key US inflation data and the start of the September-quarter earnings season.
Asian indices traded mixed on Monday amid geopolitical uncertainty and caution ahead of corporate earnings. Japan's cash equity market remained closed for Sports Day.
US stocks ended higher on Friday, with all three major indices advancing and posting weekly gains. The Dow Jones Industrial Average rose 423.31 points, or 0.83%, to 51,654.95. The S&P 500 gained 46.18 points, or 0.59%, to 7,811.54, while the Nasdaq Composite advanced 172.83 points, or 0.64%, to 27,366.17.
Net interest income (NII) rose 2.1% to Rs 10,798 crore in Q1 FY27 from Rs 10,578 crore a year earlier, while the global net interest margin (NIM) improved to 2.64% in Q1 FY27 from 2.50% in Q1 FY26.
The bank's global business expanded 10.2% YoY to Rs 29,97,970 crore as of 30 June 2026. Global advances grew 12.7% YoY to Rs 12,73,132 crore, while global deposits rose 8.5% YoY to Rs 1,72,4837 crore in Q1 FY27.
CASA deposits stood at Rs 6,13,116 crore in Q1 FY27 as compared to Rs 5,68,638 crore posted in Q1 FY26, registering a growth of 7.8%. However, the domestic CASA ratio moderated slightly to 36.7% as of 30 June 2026 from 37% a year ago.
On the asset quality front, gross non-performing assets (GNPA) reduced 17.09% to Rs 35,381 crore as of 30 June 2026, as against Rs 42,673 crore as of 30 June 2025.
The gross NPA ratio reduced to 2.78% as on 30th June 2026 as against 3.78% recorded as on 30th June 2025. The net NPA ratio reduced to 0.28% in as on 30th June 2026 as against 0.38% as on 30th June 2025.
The bank's capital position remained strong, with the Capital Adequacy Ratio (CRAR) at 18.13% and the Common Equity Tier-I (CET-I) ratio improving to 14.52% from 12.95% in the year-ago period.
The slippage ratio also improved to 0.68% in Q1 FY27 from 0.71% in the corresponding quarter of the previous year.
Punjab National Bank is a public sector bank that is engaged in treasury operations, corporate/wholesale banking, retail banking, digital banking, and others. As on 30th June 2026, the bank had 10,359 domestic branches and 2 International Branches. Out of the total branches, the bank had 38.7% branches in rural & 24.6 % in semi-urban areas.
Punjab National Bank dropped for a fifth straight session today. The stock is quoting at Rs 102.9, down 0.86% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.71% on the day, quoting at 24224.45. The Sensex is at 77600.28, down 0.74%.Punjab National Bank has lost around 6.16% in last one month.Meanwhile, Nifty Bank index of which Punjab National Bank is a constituent, has increased around 4.84% in last one month and is currently quoting at 58200.7, down 0.57% on the day. The volume in the stock stood at 157.19 lakh shares today, compared to the daily average of 190.55 lakh shares in last one month.
The benchmark July futures contract for the stock is quoting at Rs 103.24, down 1.04% on the day. Punjab National Bank tumbled 7.3% in last one year as compared to a 4.91% slide in NIFTY and a 1.14% spurt in the Nifty Bank index.
The PE of the stock is 7.06 based on TTM earnings ending March 26.
Punjab National Bank rose for a fifth straight session today. The stock is quoting at Rs 109.95, up 0.99% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.13% on the day, quoting at 24117.25. The Sensex is at 77266.23, up 0.14%. Punjab National Bank has added around 8.54% in last one month.
Meanwhile, Nifty Bank index of which Punjab National Bank is a constituent, has added around 8.42% in last one month and is currently quoting at 57585.05, up 0.56% on the day. The volume in the stock stood at 119.09 lakh shares today, compared to the daily average of 210.91 lakh shares in last one month.
The benchmark June futures contract for the stock is quoting at Rs 110.19, up 0.83% on the day. Punjab National Bank is up 6.77% in last one year as compared to a 2.73% fall in NIFTY and a 4.19% fall in the Nifty Bank index.
The PE of the stock is 7.41 based on TTM earnings ending March 26.