PSU Banks are again back to focus. In today's trade, barring few PSU banks, most of the PSU banks ended in green, in spite of the fact bank nifty ended in red. The most notable was Punjab and Sind Bank, which has increased by 9%. The other PSU banks like Andhra Bank, Canara Bank, Central Bank, Dena Bank, Indian Overseas Bank, all increased by over 2%. Bank of India, Indian Bank, Orient Bank, SBI, Uco Bank and Union Bank were among the looser.
On the other hand, majority of the private banks lost the ground today. ICICI bank is a notable gainer, which provided some support to the index. Yesterday, ICICI bank declared a stock split of 1:5. Other than ICICI bank, Dhanlaxmi Bank and City Union bank have also gained substantially. J&K Bank was the biggest looser, which declined by 4.38%.
Providing NIFTY is stable tomorrow, PSU banks should make further gain.
On the other hand, majority of the private banks lost the ground today. ICICI bank is a notable gainer, which provided some support to the index. Yesterday, ICICI bank declared a stock split of 1:5. Other than ICICI bank, Dhanlaxmi Bank and City Union bank have also gained substantially. J&K Bank was the biggest looser, which declined by 4.38%.
Providing NIFTY is stable tomorrow, PSU banks should make further gain.
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