PSU banks rally on reports of capital infusion by the government; Nifty PSU Bank index gains 1.5%
Updated : June 04, 2019 11:32 AM IST
Shares of PSU Banks rallied on reports that the finance ministry is expected to infuse Rs 40,000 crore in state-owned banks.
Nifty PSU Bank index was up over 1.5 percent led by gains in Oriental Bank of Commerce, Union Bank of India, Syndicate Bank.
Expectations of monetary policy committee reducing the interest rate by 25 bps for the third time in a row also lifted the sentiment.