Stock viewBusiness Standard
PSU Banks in focus; SBI, BOI, PNB, Indian Bank, Canara, UBI gain up to 3%
Positive0
GreyOak summary
PSU banks including SBI, PNB, and Canara Bank rallied up to 3% intraday, driving the Nifty PSU Bank index up 2.5%. While private banks lagged, rising government bond yields created uncertainty regarding the transition to the Expected Credit Loss framework. Analysts note that despite agricultural loan stress due to a weak monsoon, systemic deterioration is expected to be limited.
What it affects
- State Bank of IndiaSBINPositive 0
SBI gained 3% in intraday trading.Rolling sentiment Positive +16
- Punjab National BankPNBPositive 0
PNB gained 3% in intraday trading.Rolling sentiment Negative -24
- Indian BankINDIANBPositive 0
Indian Bank gained 3% in intraday trading.Rolling sentiment Neutral -5
Source
Read the original at Business StandardMore State Bank of India news
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