Nifty PSU Bank index surged 2.7% to 3,022, its highest level since September 17, 2018, in intra-day trade on Thursday, rallying 10% from its Tuesday’s low of 2,747 on the NSE.

  • Shares of public sector undertaking (PSU) banks were trading higher for the third straight session on Thursday, with the Nifty PSU Bank index gaining nearly 3% ahead of Reserve Bank of India (RBI) governor Shaktikanta Das’s meeting with the heads of the state-owned banks later in the day.

  • Nifty PSU Bank index has surged 2.7% to 3,022, its highest level since September 17, 2018, on the National Stock Exchange (NSE) in early morning trade. In comparison, the Nifty 50 index was up 0.5% at 10,791 points. The Nifty PSU Bank index has rallied 10% from its Tuesday’s intra-day low level of 2,747, against 4.4% rise in the benchmark index.

  • State Bank of India (SBI), Indian Bank, Central Bank of India, Union Bank of India, Punjab National Bank (PNB), Andhra Bank, Oriental Bank of Commerce, Bank of India, Bank of Baroda and Canara Bank were up in the range of 1% to 5% today.

  • Hours after assuming charge as governor of the RBI on Wednesday, Shaktikanta Das spelled out his priorities, asserting that he would uphold the autonomy, credibility, and integrity of the “great institution”. Das also said he would extensively consult various stakeholders, including the government, on key issues.

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