PSU banks trade firm in a weak market; SBI nears record high

Recently, SBI raised Rs 10,000 crore through its maiden issue of infrastructure bonds, for funding infrastructure and affordable housing segment.

Shares of public sector undertaking (PSU) banks were trading firm, having gained up to 4 per cent on the BSE in Tuesday’s intra-day deals in an otherwise weak market on expectation of strong earnings momentum in coming quarters.

Nifty PSU Bank index hit a new high of 4,196 in intra-day trade, up 0.82 per cent at 4,185.90 at 09:30 AM. In comparison, the Nifty 50 index was down 0.50 per cent at 18,607.

Bank of India, Bank of Baroda, Bank of Maharashtra, UCO Bank, Punjab & Sind Bank, Indian Overseas Bank, Union Bank of India and Central Bank