Nifty PSU Bank at 2-month high; PNB hits 6-month high on rating upgrades

PNB, the top gainer among PSU banks, was trading 3% higher at Rs 87.25, at its highest level since September 3, 2018 on the NSE.

Shares of public sector undertaking (PSU) banks were continued their northward journey with Nifty PSU Bank index hitting two-month high on expectation of improve financial performance.

At 11:15 am, Nifty PSU Bank index, the largest gainer among sectoral indices, was up 2.2 per cent, as compared to a 0.64 per cent gain in the benchmark Nifty50 index. Nifty Bank and Nifty Private Bank indices were up 1 per cent each.

State Bank of India (SBI), Punjab National Bank (PNB), Oriental Bank of Commerce, Canara Bank, and Bank of Baroda were up in the range of 2 to 3