PSBs recover from intraday lows; Bank of India, Andhra Bank up 2%

Shares of public sector banks (PSBs) erased their intra-day losses and recovered up to 5% in late morning deals on the National Stock Exchange (NSE).

Bank of India, Indian Overseas Bank, Central Bank of India, Bank of Baroda, Oriental Bank of Commerce and Punjab National Bank recovered in the range of 2% to 5% from their respective intraday lows.

At 11:07 AM; Nifty PSU Bank index was up 1.1% at 3,062, bouncing back 1.6% from its intra-day low of 3,015 on the NSE. The benchmark Nifty50 index trading 0.7% higher at 10,164, was close to its record high of 1,0179, touched