Public sector banks saw a significant 4.5% rally today, with Union Bank and Bank of Maharashtra leading the charge by surging 5%, as a dip in bond yields eased investor concerns. Notable gains were also seen in SBI, PNB, Canara Bank, among others. The drop in India's 10-year bond yield to 6.9% from 7.05% has contributed to the positive movement in the sector.

Canara Bank experienced an upward jump of 5.6% on April 8, 2026, driven by increased optimism due to a recent rating upgrade and positive sentiments towards public sector banks.

Canara Bank revealed that as of March 31, 2026, the President of India holds a significant 62.93% stake in the bank. Notably, there were no share pledges or encumbrances by the promoter or related parties during FY 2025-26.