PSU banks extend gains; Nifty PSU Bank index up 10% in six trading days

SBI, PNB, Syndicate Bank, Bank of India and Bank of Baroda were trading higher in the range of 1% to 4% on the National Stock Exchange.

Shares of public sector banks (PSBs) were trading higher for the second straight day on expectations of PSU recap bond allocation to happen before the Budget.

State Bank of India, Punjab National Bank (PNB), Syndicate Bank, Bank of India and Bank of Baroda were up in the range of 1% to 4% on the National Stock Exchange (NSE).

At 01:39 PM; Nifty PSU Bank index was up 2.2% at 3,918 as compared to 0.04% rise in Nifty50 index. Nifty Private Bank was trading 0.59% lower, while Nifty Bank index quoting flat on NSE.

In past six trading