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NEW DELHI: Most PSU bank stocks, including Bank of Baroda (up 1.98 per cent) and Allahabad Bank (up 1.66 per cent) were witnessing healthy buying during morning trade on Thursday, keeping the sectoral index up.
The Nifty PSU Bank was trading 1.58 per cent up at 2,836 around 10:40 am.
Shares of Bank of India (up 1.63 per cent), State Bank of India (up 1.62 per cent), Indian Bank (up 1.47 per cent), Punjab National Bank (up 1.46 per cent), IDBI Bank (up 1.32 per cent), Canara Bank (up 1.16 per cent), Andhra Bank (up 1.10 per cent), Union Bank of India (up 1.08 per cent) and Syndicate Bank (up 0.74 per cent) were also among the gainers.
Oriental Bank of Commerce (down 0.40 per cent) was the only component in the PSU bank index that was down around that time.
Equity markets were treading higher amid positive Asian cues, while a fresh fall in global crude oil prices and an improvement in Indian rupee against the US dollar also influenced the sentiment.
The rupee strengthened against the US dollar ahead of the release of industrial growth (IIP) data for May and retail inflation (CPI) data for June.
Benchmark NSE Nifty50 index was up 88 points at 11,036, while the BSE Sensex was up 283 points at 36,549.
Among the 50 stocks in the Nifty index, 39 were trading in the green, while 11 were in the red.
HPCL, BPCL, Indian Oil Corporation, Dr.
Reddy's Laboratories and Bajaj Finserv were among the top gainers in the Nifty index.
On the other hand, Bharti Infratel, Infosys, Mahindra Mahindra, ITC and Tata Consultancy Services were among the top losers in the Nifty pack of stocks.
