PSU banks rally; Nifty PSU Bank index up 5%

SBI, BOB, Oriental Bank of Commerce, Union Bank of India, Andhra Bank, Bank of India, Canara Bank and Allahabad Bank were up in the range of 5% to 7% on the NSE. Shares of public sector undertaking (PSU) banks were in focus with Nifty PSU Bank index gaining 5%, its sharpest intra-day gain during past one month on the National Stock Exchange (NSE).

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