PSBs in limelight; stocks surge up to 8%

Public sector bank stocks today

rose up to 8 per cent as the government's Rs 2.11 lakh crore

recapitalisation plan continued to drive investor sentiment.

Punjab National Bank (PNB) shares gained 3.92 per cent

and that of SBI rose 0.37 per cent on the BSE.

Among others, Syndicate Bank stock soared 8.15 per cent,

followed by Indian Bank 5.56 per cent, Union Bank of India

4.73 per cent, Allahabad Bank 3.53 per cent, Bank of India

2.27 per cent and Bank of Maharashtra 1.83 per cent.

The BSE bank index went up by 0.42 per cent to end at

28,214.48.

"Domestic indices marched to a new record high on

continuing positivity from the PSU banks and support from

Asian peers," said Anand James, Chief Market Strategist,

Geojit Financial Services Ltd.

The BSE 30-share key index ended the day with a gain of

108.94 points at 33,266.16.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)