PSU bank stocks: Punjab Sind Bank (+9.14%), Union Bank (+4.03%), Bank of Baroda (+3.41%) lead gains

Public Sector Bank (PSU) stocks surged in early trade today, with strong performances across the board. Optimism around improved fundamentals and sectoral momentum is driving investor interest.

Stock Performance (as of 10:20 AM):

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  • Punjab Sind Bank: ₹50.51, up ₹4.23 (+9.14%)
  • Union Bank: ₹110.37, up ₹4.28 (+4.03%)
  • Bank of Baroda: ₹229.60, up ₹7.58 (+3.41%)
  • Bank of India: ₹99.20, up ₹3.07 (+3.19%)
  • Canara Bank: ₹97.50, up ₹2.81 (+2.97%)
  • PNB: ₹101.02, up ₹2.77 (+2.82%)
  • UCO Bank: ₹43.34, up ₹0.93 (+2.19%)
  • SBI: ₹769.45, up ₹15.75 (+2.09%)
  • Bank of Maharashtra: ₹51.93, up ₹0.94 (+1.84%)
  • Central Bank: ₹52.21, up ₹0.89 (+1.73%)
  • IOB: ₹50.59, up ₹0.68 (+1.36%)

The rally reflects positive momentum in the banking sector, supported by robust quarterly earnings from key players and improved credit growth. Analysts have also highlighted increasing investor confidence in PSU banks, driven by expectations of better operational efficiencies and asset quality improvements.

Disclaimer: This report is for informational purposes only and should not be considered financial advice. Please consult your financial advisor before making any investment decisions.