PSU Bank index soars 73% from June lows; UCO, BOI, Canara zoom up to 102%

In the past one month, the Nifty PSU Bank index has rallied 31 per cent as compared to a 2.8 per cent rise in the Nifty 50 index

Shares of state-owned banks continued their northward movement as the Nifty PSU Bank index hit a new high of 3,952.60 in intra-day trade on Tuesday.

The index has surged 73 per cent from its June 20 level of 2,283.85, which was its 52-week low, following strong earnings from banks in the July-September quarter (Q2FY23).

In the past one month, it has rallied 31 per cent as compared to a 2.8 per cent rise in the Nifty 50. While the stock prices of UCO Bank, Union Bank of India (UBI) and Bank of India have surged between 54 per cent and 65