Home / Business and Economy / PSU Banks Surge: Index Climbs 1.51% Amidst Market Gains
PSU Banks Surge: Index Climbs 1.51% Amidst Market Gains
5 Dec
Summary
- Nifty PSU Bank index rose 1.51% to close at 8381.75.
- The index has gained 18.00% over the past year.
- State Bank of India, PNB, and Bank of Baroda were top gainers.
The Nifty PSU Bank index concluded today's trading session with a notable increase of 1.51%, reaching a closing value of 8381.75. This performance marks a significant upward trend, with the index showing a 1.00% gain over the past month and an impressive 18.00% surge over the last year. This yearly performance substantially outpaces the benchmark Nifty 50 index, which recorded a 5.98% increase during the same period.
Leading the charge within the PSU Bank index were prominent financial institutions. State Bank of India saw a considerable rise of 2.47%, closely followed by Punjab National Bank, which added 1.82%, and Bank of Baroda, up by 1.53%. These individual gains collectively bolstered the overall performance of the PSU Bank sector.
In the broader market context, other indices also displayed positive momentum. The Nifty Financial Services index climbed 0.98%, and the Nifty IT index gained 0.90% on the day. The benchmark Nifty 50 index itself recorded a gain of 0.59%, closing at 26186.45, while the SENSEX added 0.52% to finish at 85712.37, indicating a generally positive trading environment.
