Nifty PSU Bank index jumps 5.4% to reach record highs

The Nifty PSU Bank index rose 5.45% this week, significantly outperforming the benchmark Nifty 50. Indian Bank emerged as the top performer followed by Union Bank, as reports suggest the rally was driven by robust quarterly earnings and record capex push. Notably, SBI's market capitalisation crossed ₹11 lakh crore for the first time.