Nifty shares trades above 24,350, amid PSU stocks on trail
The Nifty PSU Bank index increased by 1.20% to reach 7,326. However, the index had decreased by 1.60% in the previous trading sessions.
The Sensex and Nifty, key equity benchmarks, continued to trade with minor gains in the morning session. The Nifty traded above the 24,350 mark, and as a result, PSU bank shares advanced after declining in the previous trading session. In the broader market, the S&P BSE Mid-Cap index rose 0.16% and the S&P BSE Small-Cap index added 0.07%. The S&P BSE Mid-Cap index hit an all-time high at 47,659.70.
Indian Overseas Bank (up 6.29%), Punjab & Sind Bank (up 5.04%), UCO Bank (up 4.51%), Central Bank of India (up 4.3%), Bank of Maharashtra (up 3.8%), Union Bank of India (up 3.64%), Indian Bank (up 2.54%), Bank of India (up 2.16%), Punjab National Bank (up 1.42%) and Canara Bank (up 0.79%) edged higher.
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The Nifty PSU Bank index added 1.20% to 7,326. The index declined 1.60% in the past trading sessions.
Utkarsh Small Finance Bank's stock rose by 1.16% after the bank received approval from the Reserve Bank of India (RBI) for the re-appointment of Govind Singh as the managing director (MD) and chief executive officer (CEO) for a three-year term beginning on 21st September 2024.
Container Corporation of India (CONCOR) declined 1.23%. The company reported a 6% increase in total throughput to 11,59,251 twenty-foot equivalent units (TEUs) in Q1 FY25 compared to 10,93,610 TEUs recorded in Q1 FY24.
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