PSBs extend rally; Union, Canara, PNB hit 52-week highs; SBI crosses Rs 600

The Nifty PSU Bank index hit a record high of 5,418.70 in intraday trade on Tuesday, surpassing its previous high of 5,396.85 touched on October 3, 2023

Shares of public sector banks (PSBs) were in focus on Tuesday with the Nifty PSU Bank index gaining over 1 per cent in the intraday trade, extending  th winning streak from Monday when it surged nearly 4 per cent on expectation of postive growth ahead.

The Nifty PSU Bank index hit a record high of 5,418.70, up 1.6 per cent on the National Stock Exchange (NSE). The index surpassed its previous high of 5,396.85, touched on October 3, 2023. In the past three trading days, Nifty PSU Bank index has rallied 7.5 per cent.  In comparison, the Nifty 50