Public sector banks extend gain; PNB, Canara Bank up over 5%

PNB gained 15 per cent in the last week after the bank said ICRA Ratings has upgraded the ratings of Bonds issued by the Bank and reaffirmed the rating of Certificate of Deposits

Shares of public sector undertaking (PSU) banks were trading higher for fifth straight day at the bourses in an otherwise range-bound market on Friday, on improvement in solvency profile and capital position.

Punjab National Bank (PNB) and Canara Bank were up 7 per cent and 5.5 per cent, respectively, in intra-day trade. Bank of Maharashtra, Union Bank of India, Bank of India, Central Bank of India, Bank of Baroda, UCO Bank and Indian Bank were up 2 per cent to 4 per cent today.

At 02:28 pm, Nifty PSU Bank index was up 2 per cent, as compared