BSE PSU index hits highest level since December 2010; SAIL, BHEL up over 8%

Engineers India, NLC India, IFCI, Union Bank, NMDC, IDBI Bank, Corporation Bank and PNB were up in range of 5% to 8% on the BSE

Shares of public sector undertaking (PSU) companies including banks are on a roll with the BSE PSU index hitting nearly seven-year high after strong rally in metal, banking, oil & gas sector stocks.

At 01:17 PM; the S&P BSE PSU index was up 1.5% at 9,539, as compared to 0.11% rise in the benchmark S&P BSE Sensex. The PSU index hit an intra-day high of 9,657, its highest level since December 3, 2010 on the BSE.

Steel Authority of India (SAIL) and Bharat Heavy Electricals (BHEL) were up more than 10% each in intra-day trade, while, Engineers India,