PSU Banking Stocks Rally Post SBI Results

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PSU banking stocks rallied today after the country's largest lender State Bank of India reported a good set of quarterly numbers.

PSU Banking Stocks Rally Post SBI Results
Syndicate Bank gained a huge 3 per cent and was last trading at Rs 117, while other winners were Bank of India with gains of 3 per cent. State Bank of India itself gained over 6 per cent in trade and was last at Rs 301.

ICICI Bank also gained in trade though other private sector banks like HDFC Bank and Axis Bank were having a subdued session.

State Bank of India reported a net profit of Rs 2910 crores as against a net profit of Rs 2234 crores. The bank's performance was much better, though the asset quality continued to deteriorate.

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