PSBs gain; SBI, PNB, Canara Bank, Bank of Baroda, Bank of India up 3%

At 11:49 AM; Nifty PSU Bank index, the largest gainer among sectoral indices, was up 3% at 3,854, bouncing back 7.4% from its intra-day low of 3,587 on the NSE.

Shares of public sector banks (PSBs) were in focus with the Nifty PSU bank index rallying more than 7% from its early morning lows on National Stock Exchange (NSE).

At 11:49 AM; Nifty PSU Bank index, the largest gainer among sectoral indices, was up 3% at 3,854 as compared to 0.81% rise in the benchmark Nifty 50 index. Nifty PSU Bank index has rallied 7.4% from its early morning low of 3,587. Nifty Private Bank and Nifty Bank index were up 1% each.

State Bank of India (SBI), Punjab National Bank (PNB), Union Bank of India,