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PSU bank stocks: Stock market update: Nifty PSU Bank index falls over 1%; Bank of Maharashtra dives 4%


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Shares of
Punjab National Bank (down 2.21 per cent), Central Bank of India (down 2.09 per cent), Punjab & Sind Bank (down 1.93 per cent) and
Indian Bank (down 1.93 per cent) were the top losers in the index.
While
Bank of Baroda (up 0.13 per cent) were among the top gainers.
The Nifty PSU Bank index was trading 1.4 per cent down at 2283.3 around 01:30PM.
Benchmark NSE Nifty50 index was down 5.85 points at 14923.65, while the BSE Sensex was up 28.61 points at 50423.69.
Among the 50 stocks in the Nifty index, 18 were trading in the green, while 32 were in the red.
Shares of Vodafone Idea, PNB, Bank of Baroda, SAIL and Tata Power were among the most traded shares on the NSE. ....

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Privatisation hope lifts Nifty PSB index 5%; BoI, IOB gain 40% in 2 days


Public sector banks were ruling higher for the second day in a row as investor sentiment remained buoyant amid privatisation buzz. The Nifty PSU Bank index defied market gravity and surged 5.6 per cent to hit an intra-day high of 2,446 on the National Stock Exchange (NSE) as against a 0.6 per cent drop in the Nifty50 index.
On Tuesday, a Reuters report suggested that the government has shortlisted four mid-sized state-run banks Bank of Maharashtra, Bank of India, Indian Overseas Bank and the Central Bank of India for privatisation.
Two of those banks will be selected for sale in the FY22 which begins in April. The government, however, will continue to hold a majority stake in India s largest lender State Bank of India, which is seen as a strategic bank for implementing initiatives such as expanding rural credit, the report said. ....

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