PSU banks extend gain; Bank of Baroda surges 21% in a week

The State Bank of India (SBI), Allahabad Bank, Syndicate Bank and Andhra Bank were up 9 per cent each on the NSE during the week

Shares of public sector banks continued their upward movement with Nifty PSU Bank index surging 10 per cent thus far in the current week compared to a 2.5 per cent rise in the benchmark index.

At 11:10 am, Nifty PSU Bank index, the largest gainer among sectoral index, was up 3.6 per cent, as compared to a 0.6 per cent rise in the Nifty 50 index.

Among the individual banks, Bank of Baroda surged 21 per cent during the week, while Bank of India, Bank of Maharashtra, Indian Bank, Oriental Bank of Commerce and Canara Bank were up