PSBs in limelight, stocks surge up to 8%

PSBs in limelight, stocks surge up to 8%
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New Delhi: Public sector bank stocks today rose up to 8 per cent as the government’s Rs 2.11 lakh crore recapitalisation plan continued to drive investor sentiment.

Punjab National Bank (PNB) shares gained 3.92 per cent and that of SBI rose 0.37 per cent on the BSE.

Among others, Syndicate Bank stock soared 8.15 per cent, followed by Indian Bank 5.56 per cent, Union Bank of India 4.73 per cent, Allahabad Bank 3.53 per cent, Bank of India 2.27 per cent and Bank of Maharashtra 1.83 per cent.

The BSE bank index went up by 0.42 per cent to end at 28,214.48.

“Domestic indices marched to a new record high on continuing positivity from the PSU banks and support from Asian peers,” said Anand James, Chief Market Strategist, Geojit Financial Services Ltd.

The BSE 30-share key index ended the day with a gain of 108.94 points at 33,266.16.

PTI