Market After Election 2024: PSU Banks Witnessed Fall in Stocks After Elections, Yet to Recover

PSU Bank News: After the results of the Lok Sabha elections were declared on June 4, a major correction was seen in the market. Nifty fell by about 1380 points, while Bank Nifty saw a fall of more than 4000 points. However, after this, the market also held a good rally due to the stable government, and now, the market is trading at its all-time high. However, some PSU banks witnessed a fall after the election, and have not been able to recover yet. 

PSU Banks Still Haven’t Recovered

The first bank is UCO Bank. Before the exit poll and results, UCO Bank had set a high of Rs. 61, and on the day of the result, the stock fell to Rs. 53. Although there has been a partial recovery, the stock is still trading at Rs. 57. Another bank is Indian Overseas Bank, which was trading at Rs. 66 before the result. This stock has recovered the fall on the day of the election result, but even after the bank’s nifty rally, it has not seen any good rally. The next bank is Indian Bank, which was trading at Rs. 567 before the result, and fell to Rs. 525 and today it is trading at Rs. 545. The next PSU bank is Bank of India, which was trading at Rs. 132 before the result, fell to Rs. 116, and still trading at Rs. 122.