Market Now: PSU banks rise; SBI lone loser in Nifty PSU Bank lot

NEW DELHI: Majority of PSU bank stocks including Syndicate Bank (up 1.29 per cent), Canara Bank (up 1.08 per cent), Bank of India (up 0.95 per cent) and Punjab National Bank (up 0.94 per cent) were trading with gains during the early trade on Friday.

The Nifty PSU Bank index was trading 0.14 per cent up at 2,960 around 10:20 am (IST).

Shares of Indian Bank (up 0.93 per cent), Oriental Bank of Commerce (up 0.88 per cent), Bank of Baroda (up 0.87 per cent), IDBI Bank (up 0.84 per cent), Union Bank of India (up 0.66 per cent), Andhra Bank (up 0.58 per cent) and Allahabad Bank (up 0.57 per cent) were also in the green.


However, shares of State Bank of India (down 0.30 per cent) were slightly down after reports emerged that the CBI had examined two DGM level employees of the bank in Frankfurt and Mauritius in connection with the PNB scam.

Domestic equity markets were in the positive territory tracking global cues.

Benchmark NSE Nifty50 index was up 42 points at 10,501, while the BSE Sensex was up 158 points at 34,259.

Among the 50 stocks in the Nifty index, 42 were trading in the green, while 8 were in the red.

Adani Ports SEZ, Hindalco Industries, Indiabulls Housing Finance, Bharti Infratel and Dr Reddy's Labs were among the top gainers in the Nifty index.

However, HCL Tech, BPCL, Hindustan Unilever, Larsen & Toubro and Bajaj Finserv were among the top losers in the Nifty pack.