Nifty PSU Bank Index Most Resilient; BOB Gains Over 3%

Nifty PSU Bank index in trade today has been the most resilient gaining almost over 1% at the time of writing this copy at around 12:35 pm. Meanwhile, Nifty has also recovered from early morning losses and is quoting higher at 16,317.

Also, the headline indices have been supported by other indices including the realty pack, metals, auto, private bank index among others.

Further all of the constituents of the Nifty PSU Bank index are trading in the green with the most strength seen for Bank of Baroda which was last trading higher by over 3%. Other stocks meanwhile such as Canara Bank, PSB, Union Bank, Maharashtra Bank, SBI, Indian Bank traded with gains over 1%. Meanwhile, still others like UCO Bank, Bank of India, Central Bank, IOB and PNB were only marginally up.

On a 1-year or YTD basis, the Nifty PSU Bank index has outperformed the headline Nifty index. And as the economic recovery quickens and there is seen immense improvement in banking structure, banking stocks are poised to perform good. Some of the major banks with good number of 'Buy' rating are SBI. HDFC Bank and ICICI Bank.