New Delhi, March 27 -- Bank of Baroda, Canara Bank, Punjab National Bank, and UCO Bank were among the PSU lenders that witnessed heavy selling in Friday's session (March 27), reacting to a sharp rise in bond yields.

The Indian 10-year bond yield surged to 6.9%, extending gains to its highest level since July 2024, as a combination of fiscal pressures, energy shocks, and heavy debt supply pushed borrowing costs higher.

Additionally, the recent excise duty cut on petrol and diesel has heightened concerns over the fiscal deficit and long-term fiscal sustainability, further raising investor anxiety.

Bank of Baroda emerged as the top laggard, falling 4.8% to Rs.259.5 apiece. It was followed by Canara Bank, Punjab National Bank, Punjab & Sin...