PSU banks extend rally; SBI surges 15% in one week on strong Q2 results

In the past week, United Bank of India & Central Bank of India have rallied the most, up 43% and 37%, respectively, while Syndicate Bank, Andhra Bank, UCO Bank & Corporation Bank have gained up to 22%

Shares of public sector undertaking (PSU) banks continued their rally and were trading higher for the fifth straight session on Thursday. In the past one week, Nifty PSU Bank index has gained 12 per cent, as against a 3 per cent rise in the Nifty 50 index.

At 10:55 am, Nifty PSU Bank index, the largest gainer among all sectoral indices, was up 3.4 per cent, as compared to a 0.63 per cent rise in the Nifty 50 index. Nifty Bank and Nifty Private Bank indices, too, were up 0.88 per cent and 0.44 per cent, respectively.

In the past week, United