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PSU banks extend gain after government cuts H1 borrowing

Nifty PSU Bank index up 3% on Tuesday, extending its previous day's 5% rally on the National Stock Exchange.

SBI, State Bank of India, state bank, bank
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SI Reporter Mumbai
Shares of public sector banks were trading higher for the second straight day with the Nifty PSU Bank index gaining more than 3% on Tuesday, extending its previous day’s 5% rally, after the government announced lower-than-expected borrowing programme for the first half of the financial year 2018-19 (FY19).

At 01:43 pm; Nifty PSU Bank index, the largest gainer among sectoral indices, was up 3.12% at 2,939 as compared to 0.61% rise in the Nifty 50 index. The PSU bank index hit a high of 2,948 in early morning trade, rallied 8.5% in past two trading sessions from level of