SBI, Bank of India is among six PSU banking stocks that hit a 52-week high and rose up to 21% in a month

On Tuesday, the benchmark Sensex fell by around 150 points to settle at 84,628. Despite broader market weakness, six stocks from the BSE PSU Bank Index hit their highest levels in 52 weeks, hitting their highest levels in the past year. Traders and investors often view such breakouts as bullish signals, indicating strong upward momentum and the possibility of further gains.

BSE PSU Banks likely to remain in focus: India’s state-owned banks could attract up to $4 billion in passive inflows if the government increases the foreign institutional investment (FII) limit to 49% from the current 20%, according to Nuvama Institutional Equities. The report points to potential MSCI-linked inflows of around $3.98 billion from six major public sector lenders – State Bank of India (SBI), Bank of Baroda, Punjab National Bank (PNB), Canara Bank, Union Bank of India and Indian Bank – should the cap on investment be increased.

Bank of India| New 52-week high: Rs 141.8| CMP: Rs 141.1. Over the past month, the stock has gained about 21%.

Indian bank| New 52-week high: Rs 855.9| CMP: Rs 855.9. Over the past month, the stock has gained about 21%.

National Bank of Punjab| New 52-week high: Rs 121.45| CMP: Rs 121.15. Over the past month, the stock has gained about 12%.

Bank Of Baroda| New 52-week high: Rs 277.5| CMP: Rs 276.85. Over the past month, the stock is up about 11%.Canara Bank| New 52-week high: Rs 131.8| CMP: Rs 130. Over the past month, the stock is up about 10%. State Bank Of India| New 52-week high: Rs 935.9| CMP: Rs 930.25. Over the past month, the stock has gained about 9%.