India's public sector bank index slides amid crude price surge

Bank of Maharashtra

09/03/2026 05:04

** India's public sector bank index .NIFTYPSU slides 5.8% at 8,653 as crude tops $100/bbl amid Iran war; benchmark Nifty 50 index .NSEI down 2.55%

** State-owned lenders drop on fears that higher crude prices could lift borrowing costs, push bond yields up and compress treasury gains, according to Antique Stockbroking

** Crude prices climbed to their highest in nearly four years as U.S.-Israeli war with Iran widens

** Brent LCOc1 jumps as much as 26.4% to $117.16 a barrel

** Index dropped 6.5% last week

** Bank of Maharashtra BMBK.NS down 7.5%, top percentage loser on the index

** YTD, NIFTYPSU up ~1.3%, Nifty 50 down ~9%

(Reporting by Anuran Sadhu in Bengaluru)

((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))