Nifty PSU Bank amid weak market sentiment has bucked the trend and risen nearly 5 per cent in 2 trading session. At the time of writing this copy, Nifty PSU Bank traded strong by over 2 per cent or 141 points at 7,117.05. The gains in the index were seen ahead of the RBI monetary policy outcome due later in the week.
At around 11:43 am, top movers from the pack included counters such as Union Bank of India, Punjab National Bank, Bank of Baroda, Indian Bank and Canara Bank among others.
However, top gainers from the pack included stocks like Maharashtra Bank, Indian Overseas Bank and Union Bank of India – all gaining between 4-7 per cent. Other top gainers in the list are Central Bank of India, Punjab and Sind Bank and UCO Bank among others.
Infact, all of the constituents traded with gains in the range of 0.76 – 6.8 per cent, with the lowest gains seen in counters including SBI and Canara Bank.
Why PSU Bank stocks are rising today for the second trading session?
Highlighting strong fundamentals, G Chokkalingam – Founder of Equinomics stated that rally in the pack is driven by favourable fundamentals including,
Solid improvements in NPAs
Strong branch net work helping in keeping low cost (CASA) deposits intact
Attractive valuations. Most PSU banking stocks available around 1 to 1.2 x price to adjusted book values.
Additionally, Sandeep Jain of Tradeswift said the strong contibution of rural India in the country’s GDP is lifting sentiment for the pack. He also added that whenever the government doles out MSP – the rural economy gets a push and this is positive for the banking space.
PSU Bank stocks to buy
Stocks suggested as a good buy by Sandeep Jain are SBI, PNB- which he believes has seen good consolidation.
Additionally, the expert has recommended a buy on J&K Bank and Maharashtra Bank. For J&K Bank, the stock is believed to be available at good levels. Further, the analyst bets on IDBI Bank in the private bank space.
The analys
7,117.05
+141.05(+2.02%)
Anurag Dhole is a seasoned journalist and content writer with a passion for delivering timely, accurate, and engaging stories. With over 8 years of experience in digital media, she covers a wide range of topics—from breaking news and politics to business insights and cultural trends. Jane's writing style blends clarity with depth, aiming to inform and inspire readers in a fast-paced media landscape. When she’s not chasing stories, she’s likely reading investigative features or exploring local cafés for her next writing spot.
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
