SBI, PSBs shares gain on GDP farming

Banks

Shares in Indian public sector banks turned positive after April-June GDP data showed the farm sector grew more strongly than expected, easing worries of rural non-performing assets.

Farm output rose 2.9 in the April-June quarter.

State banks are seen particularly exposed to the farming sector.

State Bank of India gains 0.8 per cent, Bank of India rises 0.9 per cent, while Union bank gains 2.8 percent.

The benchmark NSE index falls 0.46 percent while the BSE index falls 0.25 per cent.

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