 "banks, credit, recapitalisation")
Shares of public sector banks (PSBs) were trading higher for the second straight day on expectations of PSU recap bond allocation to happen before the Budget.
State Bank of India, Punjab National Bank (PNB), Syndicate Bank, Bank of India and Bank of Baroda were up in the range of 1% to 4% on the National Stock Exchange (NSE).
At 01:39 PM; Nifty PSU Bank index was up 2.2% at 3,918 as compared to 0.04% rise in Nifty50 index. Nifty Private Bank was trading 0.59% lower, while Nifty Bank index quoting flat on NSE.
In past six trading sessions, Nifty PSU Bank index rallied 10% from levels of 3,543 on January 16, 2018, after the government curtailed its additional market borrowing programme as it expects more transfers of surplus cash from the Reserve Bank in the current fiscal ending March 31. On comparison, Nifty 50 index was gain 3.6% during the period.
In October 2017, the government unveiled a Rs 2.1 trillion support for PSBs, struggling with mounting bad loans, in order to spur “genuine” infrastructure lending for upcoming mega projects. CLICK HERE TO READ FULL REPORT.
State Bank of India, Punjab National Bank (PNB), Syndicate Bank, Bank of India and Bank of Baroda were up in the range of 1% to 4% on the National Stock Exchange (NSE).
At 01:39 PM; Nifty PSU Bank index was up 2.2% at 3,918 as compared to 0.04% rise in Nifty50 index. Nifty Private Bank was trading 0.59% lower, while Nifty Bank index quoting flat on NSE.
In past six trading sessions, Nifty PSU Bank index rallied 10% from levels of 3,543 on January 16, 2018, after the government curtailed its additional market borrowing programme as it expects more transfers of surplus cash from the Reserve Bank in the current fiscal ending March 31. On comparison, Nifty 50 index was gain 3.6% during the period.
In October 2017, the government unveiled a Rs 2.1 trillion support for PSBs, struggling with mounting bad loans, in order to spur “genuine” infrastructure lending for upcoming mega projects. CLICK HERE TO READ FULL REPORT.
