Market wrapMint
Nifty PSU Bank logs biggest weekly surge in two years
Positive+27
GreyOak summary
The Nifty PSU Bank index advanced 8% in its biggest weekly surge in two years, driven by better-than-expected Q2 results and expanding credit demand. PSU banks reported aggregate net profits of ₹59,367 crore, a 20% YoY increase. Top performers included PNB (13.3%), Bank of India, and Bank of Baroda, all rallying between 9.5% and 11%. Broader sentiment remains upbeat despite margin pressures from higher-cost foreign currency deposits.
What it affects
- NIFTY PSU BANKPositive +27
Surged 8% in biggest weekly gainRolling sentiment Neutral +9
- Punjab National BankPNBPositive +27
Top performer with a 13.3% weekly surge.Rolling sentiment Negative -19
- Bank of IndiaBANKINDIAPositive +18
Rallied between 9.5% and 11% weekly.Rolling sentiment Neutral +6
- Bank of BarodaBANKBARODAPositive +18
Rallied between 9.5% and 11% weekly.Rolling sentiment Positive +24
Source
Read the original at MintMore Punjab National Bank news
- Bank Nifty rises for 3rd day above 61,300Moneycontrol · Stock view ·
- Punjab National Bank share price soars 11% in two days; hits 52-week highBusiness Standard · Stock view ·
- Bank Nifty surges 3% as crude prices fallMoneycontrol · Market wrap ·
- PSU Banks in focus; SBI, BOI, PNB, Indian Bank, Canara, UBI gain up to 3%Business Standard · Stock view ·
- Anand Rathi picks Ashok Leyland, Swiggy, PNB for Diwali tradingMint · Stock view ·