PSU banks in focus; Bank of Baroda, PNB, Bank of India up over 4%

IDBI Bank, PNB, Bank of Baroda, Oriental Bank of Commerce and Bank of India from Nifty PSU Bank index were up more than 3% on the NSE.

Shares of public sector banks were in focus with the Nifty PSU Bank index up nearly 3% in noon deals on the National Stock Exchange (NSE) after media reports suggested that the government may outline the details of PSU recapitalisation plan later in the day. 

At 12:15 AM; the Nifty PSU Bank index, the largest gainer among sectoral indices, was up 2.9% at 3,726, as compared to 0.29% rise in the benchmark Nifty 50 index. Nifty Bank index was up 0.43%, while Nifty Private Bank index up marginally by 0.5%.

IDBI Bank, Punjab National Bank (PNB), Bank of