Nifty trades above 25,350 mark; PSU Bank shares rally for 2nd day

The key equity benchmarks traded with strong gains in morning trade, supported by a moderation in crude oil prices from elevated levels and foreign fund inflows. Despite a recent uptick in crude prices, optimism over a potential de-escalation in the Iran conflict continued to underpin investor sentiment. The Nifty traded above the 25,350 mark.

PSU Bank shares witnessed buying demand for second consecutive trading sessions.

At 10:25 IST, the barometer index, the S&P BSE Sensex advanced 1,153.30 points or 1.43% to 82,261.52. The Nifty 50 index 309.60 points or 1.24% to 25,354.25.

In the broader market, the Nifty MidCap 150 Index rose 0.98% and the Nifty SmallCap 250 Index added 1.35%.

The market breadth was strong. On the BSE, 2,634 shares rose and 691 shares fell. A total of 106 shares were unchanged.

Buzzing Index:

The Nifty PSU Bank index jumped 2.18% to 9099.20. The index rose 5.99% in two consecutive trading sessions.

Punjab & Sind Bank (up 5.38%), UCO Bank (up 4.01%), Central Bank of India (up 3.87%), Indian Overseas Bank (up 3.79%), Bank of Maharashtra (up 2.6%), Bank of Baroda (up 2.36%), Bank of India (up 2.28%), State Bank of India (up 2.27%), Punjab National Bank (up 1.89%) and Indian Bank (up 1.41%) advanced.

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