Despite 22% jump in 3 months, analysts see more upside in Nifty PSB index

Among individual shares, Bank of Baroda, Canara Bank, State Bank of India, Indian Bank, and Union Bank of India soared between 21 per cent and 34 per cent during the period

The Nifty PSU Bank index advanced 2.7 per cent on the National Stock Exchange (NSE) on Thursday, even as the benchmark Nifty50 index fell by 0.47 per cent. Over the past three months, shares of public sector banks have staged a smart outperformance on the bourses amid a pick-up in the market momentum, and improved economic outlook. 

The Nifty PSU Bank index has jumped 21.5 per cent during the period, as against a 9-per cent rally in the 50-pack index, ACE Equity data shows. Among individual shares, Bank of Baroda, Canara Bank, State Bank of India, Indian Bank, and Union