PSU Banks PNB, SBI Lead Gains on Nifty Bank Last Week, Futures Rise 130 Pts

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PSU Banks PNB, SBI Lead Gains on Nifty Bank Last Week, Futures Rise 130 Pts
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The sectoral index Nifty Bank closed the June 2-ended week with slight losses while snapping a two-day falling streak on Friday.

The index slipped 0.18% during the week, however, rising 147.65 points or 0.34% at 43,937.85 levels at Friday’s close. All the constituent stocks ended higher in the previous session except one.

The gains on the 12-scrip sectoral pack were led by public sector lenders on Friday, with Punjab National Bank (NS: PNBK ) rising the most and surging 1.54% during the session.

Read Also: Nifty Bank Bulls and Bears Try to Exert Control, Key Support & Resistance Levels

State-owned lenders Bank of Baroda (NS: BOB ) and State Bank of India (NS: SBI ) were also among the top gainers on Nifty Bank in Friday’s intraday trade, jumping up to 1% each.

Private sector lender Bandhan Bank (NS: BANH ) was the only stock that ended with losses on Friday, declining 1.2%.

Further, Bank NIFTY Futures gained 126.7 points or 0.29% to 44,074.95 levels.

The domestic market ended the previous week on a flat note with benchmark indices Nifty50 and Sensex making marginal gains of 0.19% and 0.07%, respectively during the period.

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  • Ashwani Babbar @Ashwani Babbar
    I think Psu Banks r awaiting re rating !
    Like 1

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