Nifty PSU Bank index gains 3% after falling 7% in past four trading days

SBI, IDBI Bank, PNB, Union Bank of India, Allahabad Bank, Oriental Bank of Commerce and Canara Bank were up in the range of 2% to 5% on the NSE.

Shares of public sector undertaking (PSU) banks were in focus with Nifty PSU Bank index gaining 3% on Friday after falling 7% in past four trading days on the National Stock Exchange (NSE).

State Bank of India (SBI), IDBI Bank, Punjab National Bank (PNB), Union Bank of India, Allahabad Bank, Oriental Bank of Commerce and Canara Bank were up in the range of 2% to 5% on the NSE at 02:43 pm.

The Nifty PSU Bank index, the largest gainer among sectoral indices, was up 3% as compared to 0.83% rise in the Nifty 50 index. In past