Market Now: PSU Bank stocks up; Union Bank surges over 4%

Shares of PSU bank stocks, including Union Bank of India (up 4.27 per cent), Oriental Bank of Commerce (up 2.80 per cent), Bank of India (up 2.64 per cent) and Syndicate Bank (up 2.51 per cent) were trading up in afternoon trade on Monday. The Nifty PSU Bank index was trading 0.87 per cent up at 4,010 around 1 pm (IST).

PSU bank stocks such as Andhra Bank (up 2.49 per cent), Bank of Baroda (up 2.10 per cent), Allahabad Bank (up 1.83 per cent), Canara Bank (up 1.42 per cent) and State Bank of India (up 0.55 per cent) were also in the green around that time.