NEW DELHI: The Nifty PSU Bank index was trading as the top loser among the sectoral indices on NSE during the early trade on Friday.

The index was trading 1.48 per cent down at 2,948 around 09:55 am (IST) with all components in the red.

Bank of India (down 2.34 per cent), Canara Bank (down 1.71 per cent) and State Bank of India (down 1.60 per cent) were the top losers among the PSU bank stocks.

Shares of Union Bank of India (down 1.49 per cent), IDBI Bank (down 1.38 per cent), Oriental Bank of Commerce (down 1.29 per cent) and Bank of Baroda (down 1.15 per cent) declined over 1 per cent.

Punjab National Bank (down 0.93 per cent), Andhra Bank (down 0.90 per cent), Syndicate Bank (down 0.67 per cent), Indian Bank (down 0.66 per cent) and Allahabad Bank (down 0.48 per cent) were too appearing dull.

Equity markets were trading in the negative zone amid weak global cues as renewed fears of a trade war between the US and China weighed on.

Benchmark NSE Nifty50 index was down 29 points at 10,296, while the BSE Sensex was 90 points down at 33,507.

Among the 50 stocks in the Nifty index, 20 were trading in the green, while 30 were in the red.

Shares of HPCL, BPCL and Lupin were leading the pack of gainers in the Nifty index.

On the contrary, Bharti Airtel, Vedanta and State Bank of India were leading the pack of losers in the Nifty pack.