PSU Bank Stocks Rally Up to 4% on Strong Q4 Business Updates
PSU bank stocks rallied up to 4% on Monday after several lenders reported strong deposit and advance growth for the March quarter.
India's PSU bank stocks advanced on Monday, with the Nifty PSU Bank Index climbing 0.5% even as the broader market traded lower. The gains were led by lenders such as Bank of Baroda and Bank of Maharashtra, which reported robust growth in deposits and advances for the March quarter. These positive updates spurred investor interest, with Bank of Baroda shares rising approximately 4% and Bank of Maharashtra gaining over 3%. The sector's performance highlights its resilience amid a rising interest rate environment, as stronger loan and deposit growth offset pressures from higher bond yields. Other PSU banks also saw modest upticks following their quarterly disclosures, suggesting broad-based strength in the segment's core business metrics.