Nifty PSU Bank Index Gains 1%; Allahabad Bank, PNB Stocks Up

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Nifty PSU Bank Index was trading higher by 1.5 today, with Allahabad Bank, the top gainer in the index, trading at Rs77.60 per share, up by 4.7%. Canara Bank is on the second position in the Banking index, and is up 2.09% at Rs372 per share.

Shares of Oriental Bank of Commerce, Syndicate Bank, SBI, BoB were trading higher in the PSU Bank Index.

IDBI Bank stock is the sole loser in the PSU Bank Index, trading down by 0.74%. Canara Bank stock rose 2% after the bank stated that it would sell 4% of Canfin Homes Ltd. This decision would reduce its stake to 26% in its housing finance subsidiary. The bank proposes to offload the 4% stake in Canfin Homes through empanelled investment bankers.

Meanwhile, the BSE Sensex was trading at 33,922, up 166 points and the broader Nifty50 index was ruling at 10,484, up 44 points.

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