Nifty PSU Bank soars 26% in a month; BOI, Canara Bank, UBI rally 55%

The Nifty PSU Bank index hit a new high of 3,811.15 on Wednesday, and has zoomed 67 per cent from its 52-week low of 2,283.85, touched on June 20, 2022.

Shares of state-owned banks have been on a roll in recent trading sessions. The Nifty PSU Bank index hit a new high in intra-day trades today, surging 26 per cent in the past one month after banks reported strong earnings for July-September quarter (Q2FY23). In comparison, the Nifty 50 has gained 5.4 per cent.



Bank of India (BOI), Union Bank of India (UBI), Canara Bank, Bank of Maharashtra, Indian Bank and Uco Bank have rallied between 30 per cent and 55 per cent in