NEW DELHI: Most of the PSU bank stocks were trading down in morning trade on Monday.

The Nifty PSU Bank index was trading 1.73 per cent down at 3,432 around 10:20 am (IST).

Shares of Union Bank of India (down 5.10 per cent), Allahabad Bank (down 3.48 per cent), Andhra Bank (down 2.95 per cent), Oriental Bank of Commerce (down 2.40 per cent), Syndicate Bank (down 2.31 per cent) and Punjab National Bank (down 2.16 per cent) were the top losers in the Nifty PSU Bank index.

Shares of Canara Bank (down 1.83 per cent), Bank of India (down 1.56 per cent), State Bank of India (down 1.55 per cent), Bank of Baroda (down 1.31 per cent) and IDBI Bank (down 1.11 per cent) declined up to 2 per cent in the PSU bank index.

Equity benchmarks extended losses on Monday.

The BSE Sensex dipped below the 35,000-level by plunging around 546 points in opening trade today on heavy losses in metal, realty, capital goods, banking and oil & gas stocks amid a global rout in equity markets.

Asian markets dropped over 1 per cent following deep losses on Wall Street last week after a strong US jobs report and rising Treasury yields fanned fears of interest rate hike quicker than thought.

The NSE Nifty50 index was 111 points down at 10,650, while the BSE Sensex was 348 points down at 34,719.

Among the 50 stocks in the Nifty50 index, 10 were trading in the green, while 40 were in the red.

Bharti Airtel, Hindustan Petroleum Corporation, Tata Motors and Bharat Petroleum Corporation were leading the pack of gainers in the Nifty50.

With a loss of 4 per cent, Vedanta was the top loser among the Nifty stocks.