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Market Now: PSU bank stocks rise; SBI, PNB gain over 1%


NEW DELHI: Majority of PSU bank stocks were trading with gains during the early trade on Tuesday.

The Nifty PSU Bank index was trading 1.18 per cent up at 2,952 around 10:15 am (IST).

Bank of India (up 1.90 per cent) was the top gainer in the Nifty PSU Bank index, followed by State Bank of India (up 1.33 per cent), Union Bank of India (up 1.22 per cent), Oriental Bank of Commerce (up 1.14 per cent), Syndicate Bank (up 1.03 per cent), Indian Bank (up 1.03 per cent), Bank of Baroda (up 1.03 per cent), Punjab National Bank (up 1.01 per cent), Canara Bank (up 0.99 per cent), Allahabad Bank (up 0.96 per cent) and Andhra Bank (up 0.46 per cent).

Equity benchmarks extended their winning streak for the ninth session on Tuesday, with Sensex climbing nearly 100 points in the opening trade today, after the forecast of a normal monsoon for the year.

The NSE Nifty50 index was up 23 points at 10,551, while the BSE Sensex was up 95 points at 34,401.

Among the 50 stocks in the Nifty index, 30 were trading in the green, while 20 were in the red.

Power Grid, Hindalco, Tata Steel, ICICI Bank and Mahindra & Mahindra were among the top gainers in the Nifty index.

On the other hand, Cipla, Infosys, Bharti Infratel, Wipro and Sun Pharma were among the top losers in the Nifty pack of stocks.

Source: Economic Times