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SBI, ICICI Bank, Axis Bank, Bank of India, Yes Bank, Andhra Bank and Canara Bank declined up to 3 percent.The market extended opening losses as benchmark indices were down half a percent following the negative lead from Asia and US after the sacking of US Secretary of State Rex Tillerson, and amid talk of potential US tariffs against China.
PSU banks hit most, with the PSU Bank index losing over 2 percent after the increase in amount of PNB fraud case and the RBI discontinues use of LoUs and LoCs as trade credits.
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