Nifty PSU Bank index soars 5%; SBI hits record high, up 3%; BOB zooms 10%

The Nifty PSU Bank index climbed to a fresh two-year high even as the NSE benchmark slipped a per cent.

Shares of public sector banks (PSBs) have rallied up to 10 per cent on the National Stock Exchange (NSE) in Monday’s intra-day trade after select banks reported a solid set of numbers for the quarter ended December 2021 (Q3FY22).

At 11:22 am; State Bank of India (SBI), Bank of Baroda (BOB), Union Bank of India, Bank of India, Indian Bank and Punjab National Bank (PNB) traded over 2 per cent higher on the NSE in an otherwise weak market.

The Nifty PSU Bank index hit an over two-year high at 3,133.50, and was up 5 per cent in