PSU Bank Stocks Surge After Exit Polls Predict Strong Likelihood of Modi Government’s Return
After the exit polls indicated a strong chance of the Modi government returning to power, the stock market saw a surge. Investors are showing strong interest in public sector bank stocks. The PSU Bank Nifty rose by 4.41% to reach 7,711. It recorded a jump of 325 points. All 12 banking stocks, including Indian Bank, Bank of Baroda, and State Bank of India, were among the top gainers in the Nifty PSU Bank Index.
Indian Bank
The Indian Bank stock opened at Rs. 629.90 yesterday. It was trading at Rs. 601.20 with a 5.94% increase in early trading. It reached a high of Rs. 632.70 yesterday. Today, the stock is trading at Rs. 537, a decrease of 11.49%.
Bank of Baroda
Investors were keen on buying shares of the government bank. After opening at Rs. 277 yesterday, it reached Rs. 284.35. The 52-week high for Bank of Baroda is Rs. 285.60. It was trading at Rs. 280.45 with a 5.87% increase in early trading yesterday. Today, the stock is trading at Rs. 256, a decrease of 13.92%.
SBI Bank
The State Bank of India’s stock opened at Rs. 863.55 yesterday and reached a new 52-week high of Rs. 877.20. It was trading at Rs. 867.55 with a 4.48% increase yesterday. Today, the stock is trading at Rs. 796, a decrease of 12.08%.
Indian Overseas Bank
Indian Overseas Bank’s stock was trading at Rs. 71.85 with a 4.28% increase yesterday. It opened at Rs. 73.70 and touched a high of Rs. 73.70. Today, the stock is trading at Rs. 64.8, a decrease of 11.42%.
Canara Bank
Canara Bank successfully crossed the Rs. 125.35 mark yesterday. Today, the stock is trading at Rs. 113, a decrease of 11.54%.
Bank of India
PSU Bank’s stock was trading with a 3.85% increase at 10:30 AM yesterday. It opened at Rs. 135 and reached Rs. 133.65. Today, the stock is trading at Rs. 120, a decrease of 11.80%.
Union Bank
Union Bank’s stock reached Rs. 166.10 with a 3.72% increase yesterday. It opened at Rs. 168 and touched a high of Rs. 169. Today, the stock is trading at Rs. 157, a decrease of 6.63%.
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