PSU banks slip from day's high; Union Bank of India, OBC among top losers

Indian Overseas Bank (IOB), Corporation Bank, Dena Bank, Andhra Bank and Vijaya Bank were trading higher in the range of 1% to 6% on the NSE.

Shares of select public sector banks (PSBs) rallied up to 14% in early morning trade on Wednesday, extending their previous day’s surge on the BSE, after the government has decided to infuse Rs 113 billion into five PSBs, including Punjab National Bank (PNB), to help them meet regulatory capital requirements.

Indian Overseas Bank (IOB), Corporation Bank, Dena Bank, Andhra Bank and Vijaya Bank gained 1% to 6% on the National Stock Exchange (NSE). IOB was trading 6% higher after ralliing 14% to Rs 15.30 in intra-day trade today.

However, Union Bank of India, Bank of Baroda, Oriental Bank