Nifty PSU Bank index posts biggest one-day gain in nearly two years
In short
State-owned bank stocks have jumped, and the Nifty PSU Bank index had its biggest one-day gain in nearly two years. Bank of India and UCO Bank were among the stocks that rebounded 15% to 56% from their 1-year lows.
Mint Markets says strong quarterly profits, better asset quality and returning foreign money helped the recovery. The rally may improve sentiment around state-run lenders.
What the reporting says
State-owned bank stocks have rallied sharply, with the Nifty PSU Bank index posting its biggest one-day gain in nearly two years. Mint Markets’ summary says strong quarterly profits, improving asset quality and returning foreign investment supported the rebound. The move lifted several state-run lenders, including Bank of India and UCO Bank, from their one-year lows.
Why it matters
State-owned bank stocks have rallied sharply, and the Nifty PSU Bank index posted its biggest one-day gain in nearly two years. Mint Markets’ summary links the rebound to strong quarterly profits, improving asset quality and returning foreign investment. The move included Bank of India and UCO Bank among seven stocks rebounding from one-year lows, affecting sentiment across PSU lenders.