PSU banks extend gain; IDBI Bank, Canara Bank up over 4%

At 02:53 pm; Nifty PSU Bank index was up 1.4% on Thursday, extending its Wednesday's 2.5% surged on the NSE, as compared to 1.9% rise in Nifty 50 index.

Shares of public sector undertaking (PSU) banks were trading higher for the second day in a row, gaining nearly 4%, after the Monetary Policy Committee (MPC) in its second bi-monthly policy for 2018-19 voted unanimously for a hike in policy repo rate of 25 bps, while retaining its neutral stance.

At 02:53 pm; Nifty PSU Bank index was up 1.4% on Thursday, extending its Wednesday’s 2.5% surged on the National Stock Exchange (NSE). On comparison, the Nifty 50 index was up 1.9% in past two trading sessions.

IDBI Bank, Canara Bank, Oriental Bank of Commerce, Bank of India,