PSU banks gain on government capital infusion report

Union Bank of India, Bank of Baroda, Oriental Bank of Commerce, Bank of India, Allahabad Bank, Canara Bank, PNB, Andhra Bank and Syndicate Bank were up in the range of 4% to 6% on the NSE.

Shares of public sector undertaking (PSU) banks were in focus with Nifty PSU Bank index gaining nearly 2% on media report that six banks, including PNB, may get capital infusion of Rs 80 billion.

Union Bank of India, Bank of Baroda, Oriental Bank of Commerce, Bank of India, Allahabad Bank, Canara Bank, Punjab National Bank (PNB), Andhra Bank and Syndicate Bank were up in the range of 4% to 6% on the National Stock Exchange (NSE). State Bank of India (SBI) and IDBI Bank were up 1% each.

At 01:13 pm; Nifty PSU Bank index, the largest gainer