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Market Now: PSU bank stocks bullish; BoB, PNB surge over 3%

NEW DELHI: PSU bank stocks were trading up in afternoon trade on Wednesday.

The Nifty PSU Bank index was trading 2.22 per cent up at 3,622 around 01:35 pm (IST) with all components in the green.

Shares of Bank of Baroda (up 3.63 per cent), Syndicate Bank (up 3.34 per cent) and Punjab National Bank (up 3.11 per cent) surged over 3 per cent in the Nifty PSU Bank index.

On the other hand, shares of Oriental Bank of Commerce (up 2.60 per cent), Bank of India (up 2.52 per cent), Canara Bank (up 2.50 per cent), Allahabad Bank (up 2.03 per cent) and State Bank of India (up 2 per cent) rose over 2 per cent.

Shares of Union Bank of India (up 1.50 per cent), Andhra Bank (up 1.36 per cent) and IDBI Bank (up 0.50 per cent) gained up to 1 per cent.

Benchmark NSE Nifty50 index was 57 points up at 10,757, while the BSE Sensex was 215 points up at 34,986.

Among the 50 stocks in the Nifty50 index, 31 were trading in the green, while 19 were in the red.

In the Nifty 50 index, Infosys, Adani Ports SEZ, State Bank of India, Aurobindo Pharma and HPCL were among the top gainers.

However, Wipro, Hero MotoCorp, Tata Motors, Zee Entertainment and ONGC were among the top losers.

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