Banking, particularly PSU bank stocks
buzzed after Modi govt’s mega plan of Rs 2.11 lakh crore to recapitalization was
announced. Effectively, heavy volumes were detected in banking stocks. Notably,
the trading volume was enormous in the banking stocks that Nifty Bank index
with several banking stocks surpassed the turnover of the 50-share Nifty index.
The stocks the PSU bank index of NSE
traded in green today with SBI and PNB jumping up to 40%. Nearly Rs 16405 crore worth of shares
exchanged hands on the Nifty Bank index. SBI spurted 24.56% to hit the
52-week high of Rs 316.95, which itself solely contributing Rs 5,700 crore to
the trading turnover.
PNB was the biggest gainers among the
banking stocks, which rose 40% to hit the 52-week high of Rs 193.45. Bank of
Baroda rose 28%, Union Bank of India soar 29%, Canara
Bank up 34%, Bank of India jump 30%, OBC up 25%, among
the rally of many PSUs.
