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Nifty PSU Bank index hits 4-month high; SBI, Canara Bank up 3%

Nifty PSU Bank index, the largest sectoral gainer, was up 2.6% at 3,192 levels, trading at its highest level since September 6, 2018, on the National Stock Exchange.

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Image: iSTOCK

SI Reporter Mumbai
Shares of public sector undertaking (PSU) banks continued their upward journey with Nifty PSU Bank index hitting a four-month high on Tuesday on the expectation of decline in bad loans.

Nifty PSU Bank index, the largest sectoral gainer, was up 2.6% at 3,192 levels, trading at its highest level since September 6, 2018, on the National Stock Exchange (NSE). In comparison, the Nifty Bank and Nifty Private Bank index were up 0.6% each, while the benchmark Nifty 50 index was up 0.32% at 02:19 pm.

State Bank of India (SBI), Indian Bank, Syndicate Bank, Oriental Bank of Commerce and