Public sector banks shares recovered sharply from day's low to gain up to 4 percent intraday, led by short covering. These shares had fallen up to 4 percent in morning after the increase in PNB fraud amount for the second time.
All PSU banks were in the green barring PNB. OBC and Bank of Baroda were biggest gainers among PSBs, rising 4 percent each.
Union Bank of India, Syndicate Bank, Indian Bank, IDBI Bank, Andhra Bank, Allahabad Bank and Canara Bank gained 1-3 percent.
PSU Bank index rallied as much as 1.4 percent after losing more than 2 percent in morning. In fact, Nifty Bank index also recovered from day's low, but were still trading mildly lower due to correction in ICICI Bank, Axis Bank, Kotak Mahindra Bank and IndusInd Bank.
Missed call
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