Page 2 - Psu Bank Index

Nifty PSU sets sight on a new 52-wk high; 5 stocks that can rally up to 25%

After nine long years, the MACD on monthly chart for Indian Overseas Bank has crossed the zero line

NARCL boost: Select PSU Banks can rally up to 25%; SBI may hit Rs 500-level

The Finance Minister in Budget 2021-22 announced that the high level of provisioning by public sector banks of their stressed assets calls for measures to clean up the bank books

PSU banks trade mixed after govt unveils NARCL plan; SBI hits new high

The government has approved a guarantee of Rs 30,600 crore to be provided for the security receipts issued by the National Asset Reconstruction Company (NARCL) to buy bad loans of lenders.

Bad loan recognition likely to weigh on stocks of public sector banks

Earnings improvement over two quarters was without proportionate lending growth

Value theme gains currency as low P/E multiples catch investors' fancy

In February, the bottom 33 Nifty companies in terms of P/E rose 17.3%, while top-tier P/E stocks shed 1.3%

PSU Bank index up 31% in 1 wk on strong SBI Q3 results, privatization hope

SBI, Indian Bank, Bank of Baroda, Canara Bank, Punjab National Bank and Bank of India were rallied between 25 per cent and 50 per cent in past one week.

Canara Bank, PNB, SBI: How to trade PSU bank stocks post Budget 2021?

A decisive close above 2,000 mark on Nifty PSU index may open doors for 2,200 levels going ahead

SBI, Bank of Maharashtra: PSU bank stocks are showing a breakout formation

Among individual stocks, Punjab National Bank jumped 5.2 per cent to Rs 34.6 apiece on the NSE in the intraday trade

SBI dips 3% post deposit rate cut, Uttam Galva loan default; recovers later

At 9:44 am, SBI was trading 1.2 per cent lower at Rs 184 apiece on the NSE, as against a 0.5 per cent rise in the benchmark Nifty50 index.

IndusInd Bank, SBI tumble as Moody's downgrades sector outlook to negative

Stating that asset quality will deteriorate, Moody's said a sharp decline in economic activity and a rise in unemployment will lead to a deterioration of household and corporate finances.

PSB merger effect: State Bank of India, PNB dip up to 6%, Indian Bank up 8%

The consolidation, that will merge 10 PSBs into four, comes at a time when the country and financial system is grappling with adverse fallout of the Covid-19 pandemic.

PSU Bank index hits over 10-yr low; Canara Bank tanks 38% thus far in 2020

Thus far in the calendar year, 2020 the Nifty PSU Bank index has tanked 27 per cent, as compared to an 8 per cent fall in the benchmark index.

Tech View: Sensex, Nifty see volatile sessions, but trend remains positive

The benchmark indices are holding the positive sentiment

SBI, PNB, BoB slip up to 4% as US-Iran tension push bond yields higher

Apart from higher yields, the mood at the financial counters was dampened on the report that the government may not propose fresh capital infusion under Union Budget 2020.

SBI, PNB: Should you buy PSU banks after RBI kept interest rate unchanged?

Both the technical parameters - Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) for Nifty PSU Bank index are trading with negative crossover and indicate weakness

Central Bank, Union Bank up 2% in a weak market; Canara Bank hits 52-wk low

So far in CY2019, the Nifty PSB index has underperformed the benchmark Nifty50. The former has plunged 24 per cent YTD, as against a 0.6 per cent decline in the latter.

SBI, Syndicate Bank: Should you buy PSU banks ahead of Union Budget 2019?

The Nifty PSU Bank chart depicts formation of 'symmetrical triangle', whose levels coincide with MACD breakout of 3,400-3,380. The support comes at 2,950 level

Chart check: Nifty PSU Bank trades above 200-DMA; see further upside ahead

Among stocks, Allahabad Bank - up 20 per cent in a month and Punjab National Bank (PNB) that has surged 16 per cent in a month have provided strength to the index