PSBs extend gain; Union Bank, Indian Bank up over 8%

Nifty PSU Bank index was up 4% at 2,890 at 12:15 PM; surging 12% in past two trading days, as compared to a 2% rise in the Nifty 50 index.

Shares of public sector banks (PSBs) were trading higher for the second straight day, with Nifty PSU Bank index rising 4% on Tuesday in an otherwise subdued market. The index had surged 8% on Monday.

Oriental Bank Commerce (OBC), Indian Bank, Bank of India, Dena Bank, Canara Bank and Union Bank of India were up in the range of 6% to 13%, while Syndicate Bank, Central Bank of India, Andhra Bank, Punjab National Bank (PNB), State Bank of India (SBI) and Bank of Baroda were up between 4% and 5% today.

At 12:15 pm; Nifty PSU Bank index,