On Budget morning, Nifty PSU gains the most
Shital Jibhe / 01 Feb 2017
On Wednesday morning even as the Union Finance Minister reads out his Budget documents, Nifty PSU Bank index has been leading the bunch of sectoral indices. At the time of filing this report at 1100 hours, the index is trading at 3248.25 levels, up by 74 points or 2.33%.
On Wednesday morning even as the Union Finance Minister reads out his Budget documents, Nifty PSU Bank index has been leading the bunch of sectoral indices. At the time of filing this report at 1100 hours, the index is trading at 3248.25 levels, up by 74 points or 2.33%.
In the post-demonetisation days, financial inclusion and digitalisations are the hot topics consistently trending. Narendra Modi led-NDA Government is expected to allocate more funds to the banking sector in this Budget.
Tuesday's Economic Survey projected the economic growth of the country to be in the range of 6.75% to 7.25% for the year 2017-18 post demonetisation. It has been learnt that the Finance Ministry has also been planning to use excess capital on RBI’s balance sheets to boost the ailing PSUs.
Check these PSU stocks which are trading in positive territory on Wednesday:
SBI is trading at Rs 266.35 per share up by 2.44%; Bank of Baroda is trading at Rs 169.65 per share up by 2.76%. PNB is trading at Rs 139.80 per share up by 3.14%.
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