Nifty PSU Bank PNB

SBI, Uco Bank, Punjab & Sind Bank, Indian Overseas Bank, Central Bank of India, PNB and Canara Bank were up in the range of 2 per cent to 5 per cent in Friday's intra-day trade.

The Nifty PSU Bank index rose as much as 1.96 per cent to hit an intraday high of 7,010.45, with all its constituents trading in the green.

The uptick in these stocks came after the DIPAM invited bids from merchant bankers to assist the government in its planned stake sale in public sector banks and listed financial institutions

PNB shares have slipped after it announced Rs 109.16 per share as the floor price for the QIP, launched on September 23, that aims to raise Rs 7,500 crore.

India's banking system continues to ride the good economic growth momentum, well supported by recent structural improvements in the system.

At 02:07 pm; Nifty PSU Bank index trading 1.5% lower, as compared to 0.11% rise in the Nifty 50 index.

PNB, Allahabad Bank, Oriental Bank of Commerce, Bank of Baroda, Union Bank of India, Bank of India and Canara Bank were up in the range of 1% to 4% on the NSE

In past four trading sessions, the Nifty PSU Bank index slipped 10% against 1.4% decline in the benchmark index.