PSU bank stocks were trading up in afternoon trade on Wednesday

equity tips, Nifty Tips, Stock Buzz, Weekly Market Analysis, Market NewsNifty, Sensex continue their rally in afternoon trade led by gains in ITC Ltd, Infosys, and ICICI Bank. The reduction-announcement in additional borrowing by the govt by relieving fiscal deficit worries and hopes of big-ticket changes in the GST in the coming GST council meet also elevated sentiment. Private bank stocks witnessed mixed trend, while PSU bank stocks spiked. The NSE Nifty50 index was up by 55 pts, at 10,756, while the Sensex was 203 pts up at 34,974.

The NSE Nifty PSU Bank index was trading 2.22%t up at 3,622 post lunch hours of trade with all components in the green. Shares of Bank of Baroda, Syndicate Bank, and Punjab National Bank surged over 3 % in the Nifty PSU Bank index.

Shares of OBC, Bank of India, Canara Bank, Allahabad Bank and State Bank of India, Union Bank of India, Andhra Bank and IDBI Bank also rose in different extents.

In the Nifty 50 index, shares of Infosys, Adani Ports SEZ, SBI, Aurobindo Pharma and HPCL were among the top gainers, while shares of Hero MotoCorp, Wipro, Tata Motors, Zee TV and ONGC were among the top losers.

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