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Nifty PSU Bank index up 3%; SBI hits fresh 6-month high ahead of Q1 results

SBI rallied 3.5% to Rs 320, its highest level since January 25, 2018 ahead of its April-June quarter (Q1FY19) results on Friday, August 10, 2018.

Union Finance Minister Arun Jaitley is expected to address the two-day conclave at the State Bank of India (SBI) Academy in Gurugram
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Union Finance Minister Arun Jaitley is expected to address the two-day conclave at the State Bank of India (SBI) Academy in Gurugram

SI Reporter Mumbai
Shares of public sector undertaking (PSU) bank were in focus with the Nifty PSU Bank index gaining more than 3% on the National Stock Exchange (NSE) in an otherwise range-bound market on Thursday.

Union Bank of India, Allahabad Bank and Oriental Bank of Commerce were up 5% each, while Andhra Bank, Bank of India, Canara Bank, Bank of Baroda, Syndicate Bank, Punjab National Bank (PNB) and State Bank of India (SBI) were up in the range of 3% to 4% on the NSE.

At 11:31 AM; Nifty PSU Bank index, the largest gainer among sectoral indices, was up