PSU Banks rebound; IDBI Bank, OBC gain 7% from day's low

Shares of public sector undertaking (PSU) banks have moved higher by 4% in noon deals, bouncing back upto 8% from their early morning lows on the National Stock Exchange (NSE).

Oriental Bank of Commerce (OBC), Union Bank of India, Syndicate Bank, Bank of Baroda (BOB) and Indian Bank were up more than 2% on the NSE. All these stocks have recovered by more than 5% from their respective intra-day lows.

At 02:05 pm; Nifty PSU Bank, the largest gainer among sectoral indices, was up 0.55% at 2,927, bouncing back 3% from its intra-day low. The index was down