Nifty PSU Bank index up for fourth straight day

SBI, PNB, Allahabad Bank, Bank of India, Union Bank of India, Canara Bank, Indian Bank and Bank of Baroda were up in the range of 5% to 11% on the NSE in past one week.

Shares of public sector banks continued trade higher with the Nifty PSU Bank index gaining for the fourth trading sessions after the Reserve Bank of India (RBI) announced its first bi-monthly monetary policy for the financial year 2018-19 (FY19) on April 4, 2018.

At 02:57 pm; Nifty PSU Bank index was up 1% at 3,074, rallied 7.8% in past four trading days as compared to 2.8% rise in the Nifty 50 index.

Punjab National Bank (PNB), Allahabad Bank, Bank of India, Union Bank of India, Canara Bank, Indian Bank and Bank of Baroda were up in the range