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The Economic Times
The Economic Times
Business
Debaroti Adhikary

PSU bank stocks soar up to 8%, but HDFC, Axis and other private lenders fall up to 5% after Q2 results. Why the sharp divide?

Stock Market Punjab National Bank Axis Bank HDFC Bank Nifty PSU Bank ICICI Bank Nifty Bank Union Bank of India

Shares of public sector banks surged up to 8% on Monday, buoyed by Punjab National Bank’s strong Q2 results. In contrast, private sector lenders fell up to 5% as earnings from HDFC Bank, Axis Bank, ICICI Bank and others failed to impress investors.

The Nifty PSU Bank index rose more than 2%, while the Nifty Private Bank index fell over 1%. The Nifty Bank index, meanwhile, traded marginally lower amid subdued market sentiment.

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