Public sector banks gain; Punjab National Bank hits four-month high

Nifty PSU Bank index, the largest gainer among sectoral indices, was up 1.5 per cent, as compared to 0.5 per cent rise in Nifty Bank and Nifty Private Bank index.

Shares of public sector undertaking (PSU) banks were trading higher by up to 4 per cent on the National Stock Exchange (NSE) in an otherwise range-bound market on Wednesday  as both headline inflation and WPI inflation have been falling for the past two months.

State Bank of India (SBI), Punjab National Bank (PNB), Indian Bank, Bank of India, Union Bank of India, Syndicate Bank, Indian Overseas Bank and Canara Bank were up in the range of 1 per cent to 4 per cent.

At 10:49 am, Nifty PSU Bank index, the largest gainer among sectoral indices, was up