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PSU Bank shares witnessed selling pressure for second consecutive trading session.
At 12:25 IST, the barometer index, the S&P BSE Sensex declined 447.84 points or 0.59% to 76,067.59. The Nifty 50 index declined 133.40 points or 0.57% to 23,763.20.
In the broader market, the BSE 150 MidCap Index fell 0.56% and the BSE 250 SmallCap Index rose 0.05%.
The market breadth was negative. On the BSE, 1,946 shares rose and 2,316 shares fell. A total of 281 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 5.03% to 11.22. The Nifty 29 September 2026 futures were trading at 23,882, at a premium of 118.8 points as compared with the spot at 23,763.20.
The Nifty option chain for the 29 September 2026 expiry showed a maximum call OI of 62.7 lakh contracts at the 24,000 strike price. A maximum put OI of 71.5 lakh contracts was seen at the 24,000 strike price.
Buzzing Index:
The Nifty PSU Bank index fell 1.28% to 8,406.10. The index declined 1.71% in the two consecutive trading sessions.
Bank of India (down 2.15%), Union Bank of India (down 1.79%), Indian Overseas Bank (down 1.34%), State Bank of India (down 1.33%), Bank of Baroda (down 1.22%), Indian Bank (down 1.18%), Punjab National Bank (down 1.03%), Canara Bank (down 0.88%), UCO Bank (down 0.85%) and Punjab & Sind Bank (down 0.73%) declined.
Stock in Spotlight:
Sudarshan Pharma Industries was locked in 5% upper circuit after the company said that its board has approved a proposal to acquire 24,23,675.64 equity shares of common stock, equivalent to 9.50% stake of MedTherapy Biotechnology Inc.
ICICI Bank Ltd fell 1.75% today to trade at Rs 1451.1. The BSE BANKEX index is down 0.56% to quote at 65524.41. The index is up 2.07 % over last one month. Among the other constituents of the index, State Bank of India decreased 0.88% and Union Bank of India lost 0.74% on the day. The BSE BANKEX index went up 6.08 % over last one year compared to the 2.61% fall in benchmark SENSEX.
ICICI Bank Ltd has added 5.08% over last one month compared to 2.07% gain in BSE BANKEX index and 2.63% rise in the SENSEX. On the BSE, 13679 shares were traded in the counter so far compared with average daily volumes of 8.29 lakh shares in the past one month. The stock hit a record high of Rs 1479.9 on 20 Jul 2026. The stock hit a 52-week low of Rs 1187.55 on 02 Apr 2026.
Operating expenses shed 0.78% to Rs 6,638 crore in the June 2026 quarter from Rs 6,690 crore in the June 2025 quarter.
Accordingly, the public sector bank registered an operating profit of Rs 8,003 crore in Q1 FY27, up 15.83% YoY.
Provisions and contingencies dropped by 41.16% to Rs 979.42 crore in Q1 FY27 from Rs 1,664.51 crore in Q1 FY26.
Profit before tax in Q1 FY27 stood at Rs 7,023.16 crore, up by 33.92% from Rs 5,244.15 crore in Q1 FY26.
Gross NPAs declined to 2.65% as of 30 June 2026, from 3.52% as of 30 June 2025. Net NPAs fell to 0.47% as of 30 June 2026 from 0.62% as of 30 June 2025. Total business of the bank increased by 7.46% YoY to Rs 23,79,697 crore as on 30 June 2026.
The RAM advances of the bank increased by 11.56% YoY to Rs 6,08,095 crore. The retail segment had recorded a growth of 12.06% and the MSME advances rose by 16.49% during the period under review. RAM advances as a percent of domestic advances stood at 57.31%.
Gross advances of the bank as of 30 June 2026 were Rs 10,96,331 crore, up 12.50% YoY.
Union Bank of India is engaged in the business of treasury operations, corporate and wholesale banking, retail banking operations, and other banking operations.
Union Bank of India is up for a fifth straight session today. The stock is quoting at Rs 173.98, up 1.94% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.45% on the day, quoting at 24160.1. The Sensex is at 77455.4, up 0.52%. Union Bank of India has gained around 2.01% in last one month.
Meanwhile, Nifty Bank index of which Union Bank of India is a constituent, has gained around 1.21% in last one month and is currently quoting at 57462.3, up 0.91% on the day. The volume in the stock stood at 380.42 lakh shares today, compared to the daily average of 160.41 lakh shares in last one month.
The benchmark July futures contract for the stock is quoting at Rs 175.38, up 2.37% on the day. Union Bank of India is up 17.28% in last one year as compared to a 4.17% slide in NIFTY and a 1.43% slide in the Nifty Bank index.
The PE of the stock is 6.97 based on TTM earnings ending March 26.
Union Bank of India is up for a third straight session today. The stock is quoting at Rs 166.58, up 1.26% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.04% on the day, quoting at 24216.7. The Sensex is at 77693.16, up 0.16%. Union Bank of India has slipped around 2.76% in last one month.
Meanwhile, Nifty Bank index of which Union Bank of India is a constituent, has slipped around 1.38% in last one month and is currently quoting at 58045.9, down 0.1% on the day. The volume in the stock stood at 131.89 lakh shares today, compared to the daily average of 148.99 lakh shares in last one month.
The benchmark July futures contract for the stock is quoting at Rs 167.13, up 1.21% on the day. Union Bank of India is up 13.31% in last one year as compared to a 3.45% slide in NIFTY and a 2.15% slide in the Nifty Bank index.
The PE of the stock is 6.72 based on TTM earnings ending March 26.