Budget 2019: PSU Banks Trade Mixed Despite Expectation Of Recapitalisation

Ahead of the Budget presentation, Nifty PSU Bank index is trading flat as the index constituents are trading mixed.

Central Bank of India, Indian Bank, State Bank of India and Syndicate Bank are trading in the green while Bank of Baroda, Punjab National Bank, Bank of India and Union Bank of India are trading in the red.

From the private banking space, the top gainers are IndusInd Bank, Kotak Mahindra Bank and HDFC Bank while YES Bank is down over 3 percent.

Finance Minister Nirmala Sitharaman is scheduled to present her maiden Budget on July 5. Among other expectations, analysts are estimating a Rs 35,000-40,000 crore Budget allocation towards bank recapitalisation.

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