PSU Bank Index Surges Over 5 Per cent
On Friday, it was observed that the Nifty PSU Bank index surged over 5 per cent during the morning’s trade. This was its biggest intraday percentage gain after April 5.
The shares of Andhra Bank and Oriental Bank of Commerce were among the top gainers. The index was trading 4.44 per cent up at 2,832 around 12:35 pm.
Other shares those were trading up included the shares of Union Bank of India, Bank of Baroda, Canara Bank, State Bank of India, Bank of India, Allahabad Bank, Syndicate Bank, IDBI Bank, Punjab National Bank and Indian Bank.
Buying was observed across sectors, but IT stocks were feeling the heat of selling. Equity benchmarks were trading in the positive territory on the beginning of May series of derivative contracts.
On Friday, the NSE Nifty50 index was up 69 points at 10,687, while the BSE Sensex was up 231 points at 34,945.
Out of total 50 stocks in the Nifty index, 37 were trading in the green, while 13 were in the red.