HDFC Bank's stock to turn bearish only beneath the support of Rs 1,500
In the past one month, the Nifty PSU Bank index has rallied 17.4 per cent as against a 2.1 per cent gain in the S&P BSE Sensex
Recently, SBI raised Rs 10,000 crore through its maiden issue of infrastructure bonds, for funding infrastructure and affordable housing segment.
Among individual stocks, Union Bank of India has soared 44% so far in November. Bank of India, Amara Raja Batteries, Redington and Jindal Stainless have also logged strong gains.
Rating agency Acuite Ratings & Research reaffirmed its rating of AA, revising the outlook to positive from stable for the bank's additional tier-1 bonds
The Nifty PSU Bank index hit a new high of 3,811.15 on Wednesday, and has zoomed 67 per cent from its 52-week low of 2,283.85, touched on June 20, 2022.