Nifty PSU Bank index hits one-month high; PNB, Bank of Baroda up 3%

Since February 18, 2019, Nifty PSU Bank index outpace the market by gaining 10%, against 3.5% rise in Nifty 50 and Nifty Bank index.

The shares of public sector banks (PSBs) were trading higher for the sixth straight day, with the Nifty PSU Bank index hitting a one-month high on Thursday in an otherwise subdued market.

At 01:05 PM, the Nifty PSU Bank index, the largest gainer among sectoral indices, was up 0.85 per cent, as compared to 0.14 per cent decline in the benchmark Nifty 50 index. The bank index hit an intra-day high of 2,958, its highest level since February 7, 2019.

State Bank of India (SBI), Punjab National Bank (PNB), Bank of Baroda, Oriental Bank of Commerce, Bank of India, Union