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PSU bank index seems ready to scale 13 per cent in coming sessions.
Even as the benchmark indices, the BSE Sensex and Nifty 50, were seen 2 per lower on Friday when compared with their very recent peaks, the Nifty PSU bank index scaled fresh high and now signals a likely move towards new 52-week high.
The PSU Bank index has rallied 31 per cent when compared to the benchmark indices which surged 16 per cent from their June lows so far.
Among individual stocks, Union Bank of India has zoomed 3 per cent; while Bank of Baroda and Indian Bank were seen holdings gains of 2.5 per cent gains each on Friday.
First Published: Aug 26 2022 | 12:10 PM IST