Nifty PSU Bank index soars 3% on strong Q2 earnings by PNB, Canara Bank

For the quarter ended September 2023, PNB reported a solid 327 327 per cent YoY surge in net profit, while Canara Bank's net profit grew 42.8 per cent.

Shares of public sector banks (PSBs) were are trading higher by up to 6 per cent on the National Stock Exchange (NSE) in Friday’s intra-day trade after Punjab National Bank (PNB), Canara Bank and Indian Bank reported a healthy set of numbers for July-September quarter (Q2FY24), with improvement in assets quality.

At 10:08 AM; Nifty PSU Bank index, the top gainer among sectoral indices, was up 3.3 per cent, as compared to 0.84 per cent rise in the Nifty 50. Bank of India and Canara Bank rallied 6 per cent, while Union Bank of India, PNB, Indian Overseas Bank, Indian