PSU banks under pressure: Bank of Baroda, Union Bank shed 3-4% each; CLSA retains buy on SBI

The Indian stock market opened lower with Sensex down 875.32 points, or 1.71 percent, at 50,163.99, and the Nifty fell 249.50 points, or 1.65 percent, to 14,847.90.
Among the sectors, the PSU Bank index was down over 2 percent dragged by Bank of Baroda, State Bank of India, Indian Bank, Canara Bank, Central Bank of India and Union Bank of India, which are down 2-3 percent each.
Global research firm CLSA has retained its bull call on SBI and has raised target to Rs 600 from Rs 540 per share. It is…

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