PSU Bank Stocks Surge 4% on Robust Q4 Business Growth

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.