Nifty PSU Bank index hits record high; Indian Bank surges 22% in one week

In the past one week, Nifty PSU Bank index has rallied 12 per cent as compared to 3 per cent rise in Nifty50

Shares of public sector undertaking (PSU) banks were on a roll on Friday, with the Nifty PSU Bank index hitting an all-time high of 3,310, surging 3 per cent in today's intra-day trade on expectation of strong operational performance in the September quarter for the 2022-23 financial year (Q2FY23).

The Nifty PSU Bank index surpassed its previous high of 3,267.95, touched on September 15, 2022. In the past one week, the index has rallied 12 per cent, as compared to 3 per cent rise in Nifty 50. Indian Bank, Uco Bank, Punjab & Sindh Bank, Bank of India, Canara