Shares of public sector banks dived on Wednesday morning as concerns over asset quality continued to mount.
At about 12 pm, State Bank of India shares were trading down 1.98 per cent or Rs 3.30 at Rs 163.70.
Bank of Baroda was down 5.40 per cent or Rs 6.70 at Rs 117.30.
Bank of India fell 6.29 per cent or Rs 6.05 at Rs 90.15.
Punjab National Bank plunged 7.23 per cent or Rs 6.35 at Rs 81.50.
Market participants are concerned the banks due to report December quarter results this week will likely see a shoot up in bad loans.
Brokerages downgraded, cut price target on Punjab National Bank , India's fourth-largest state-run lender, after third quarter results on Tuesday.
Three other state-run banks - Central Bank of India , Allahabad Bank and Dena Bank reported net losses on Tuesday after surge in bad loans
Banks are treating more loans as bad after Reserve Bank of India's review of their asset quality.