PSBs rally post SBI March quarter results; Nifty PSU Bank index up 7%

SBI, Jammu & Kashmir Bank, Punjab National Bank, Bank of Baroda, Canara Bank and Indian Bank were all up in the range of 7 per cent to 10 per cent on the NSE

Shares of public sector banks (PSBs) rallied up to 10 per cent on Friday on the National Stock Exchange (NSE) after the State Bank of India (SBI) reported improvement in assets quality on year-on-year (YoY) as well as sequential basis.

SBI, Jammu & Kashmir Bank, Punjab National Bank (PNB), Bank of Baroda, Canara Bank and Indian Bank among the PSBs were up in the range of 7 per cent to 10 per cent on the NSE.

At 03:00 pm, Nifty PSU Bank index, the top gainer among sectoral indices, was up 6.9 per cent, as compared to 1.2