Nifty PSU Bank extends rally for 6th session; SBI, UCO Bank, BoB surge up to 4%
The Nifty PSU Bank hit a fresh all-time high of 6,438.10 points today, with all 12 constituents flashing in the green zone.
The Nifty PSU Bank hit a fresh all-time high of 6,438.10 points today, with all 12 constituents flashing in the green zone.
Bank of Baroda, Bank of India, and Punjab & Sind Bank hit their respective 52-week highs after Morgan Stanley expressed optimism about public sector banks.
While Indian banks' improved financial metrics do not fully reflect the impact of the Covid-19 pandemic, the under–capitalised PSBs are likely to remain risk averse and lose market share.