The country’s stock markets have remained volatile throughout this week, with benchmark indices declining in most trading sessions. As a result, both the Sensex and Nifty50 have recorded notable losses over the week.

Despite this challenging environment, shares of most public sector banks (PSUs) have delivered remarkable performance. Stocks of the State Bank of India (SBI), Bank of Baroda, and Union Bank of India, among others, have seen an upward trend.

The Nifty PSU Bank sectoral index tracks 12 public sector banks. Among these, seven banking stocks have posted positive performances this week. Bank of Baroda’s shares rose by nearly 4 per cent, while Union Bank of India, Canara Bank, Bank of Maharashtra, and Indian Bank also witnessed significant gains. The country’s largest public sector lender, SBI, saw its stock price increase by over 2 per cent this week. Overall, the surge in these bank shares led the Nifty PSU Bank sectoral index to rise by 2.05 per cent.

Investors are heartened by the growth of public sector banking stocks in the first week of November. In March this year, several bank shares had experienced sharp declines, but the sector has since shown sustained growth. Among the various sectoral indices this year, the Nifty PSU Bank sectoral index has been a frontrunner.

The central government is also discussing an increase in the foreign investment limit for public sector banks. Since the news emerged, the upward trajectory of PSU bank stocks has continued. Additionally, in the second quarter of the current financial year, all public sector banks together reported a net profit of ₹49,456 crore, approximately 9 per cent higher than the net profit in the same quarter last year.

(At this time, no online platform is offering investment advice. Investments in the stock market or any other avenue carry risks. Thorough research and consultation with experts are recommended. This report is published for educational and awareness purposes.)