SBI, BoI, IOB: 5 PSU bank stocks that look good on the technical charts

Even as the charts suggests that the Nifty PSU Bank index may exhibit some volatility in the near-term, select shares can potentially rally up to 13 per cent from current levels.

Shares of PSU Banks continue to hog the limelight on the bourses with sheer outperformance compared to the benchmark index.

The NSE PSU Bank index has rallied over 28 per cent so far this calendar year as against a mere 2.8 per cent gain on the benchmark Nifty 50 index.

In the past two years, too, the state-run bank index has overwhelmingly outperformed the Nifty 50 with a rally of 67.4 per cent in 2023 and 87.3 per cent in 2022. In comparison, the Nifty notched up 23.8 per cent and 13.4 per cent gains in the respective years.

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