India's state banks extend gains to record on media report about hike in foreign investment cap

Bank of Maharashtra

28/10/2025 04:06

** Indian state-owned lenders .NIFTYPSU climb 1.4% to hit record high of 8,110.20

** State banks top sectoral gains with Nifty 50 .NSEI trading flat

** Sub-index extends gains from Monday, when it rose 2% after a Reuters report that India is planning to allow direct foreign investment in state-run banks of up to 49%, more than double the current limit

** Gains led by Indian Bank INBA.NS, up 2.3%, and Bank of Maharashtra BMBK.NS, up 2%

** Top lender State Bank of India SBI.NS and Punjab National Bank PNBK.NS up ~1% each

** YTD, PSU Banks index up 24% vs Nifty 50's 9.9% climb

 (Reporting by Kashish Tandon in Bengaluru)

 ((Kashish.tandon@thomsonreuters.com))