PSBs in focus; Nifty PSU Bank gains 10% in 8 days

Shares of public sector banks (PSBs) continued their northward journey with the Nifty PSU Bank index gaining 10 per cent in past eight trading days on expectation of improving assets quality going forward. In comparison, the benchmark Nifty 50 index was up 3 per cent, while Nifty Bank index gained 4 per cent during the same period.

At 01:43 pm, Nifty PSU Bank index, the largest gainer among sectoral indices, was up 2.5 per cent, against 1 per cent rise each in Nifty 50 and Nifty Bank indices.

State Bank of India (SBI), Union Bank of India, Syndicate Bank, Oriental