PSU banks proceed to outperform: What’s driving the rally, key elements defined – The Financial Occasions Video

Nifty PSU Financial institution was the top-performing index on the NSE in an in any other case uninteresting session on Monday, with 11 of the index constituents at contemporary 52-week highs. State-run Indian Abroad Financial institution (IOB) shares shot up almost 14% on Monday to their 52-week excessive of Rs 45.15 amid a powerful rally in public sector banks. IOB was adopted by UCO Financial institution, which was up almost 7% round 10 am. It hit its 52-week excessive of Rs 43.20. What’s driving the rally in PSU banks, key elements defined. Watch!