scorecardresearch2022 in Review: All PSU banks gain in 2022; 7 surge between 70-161%. Let's take a look

2022 in Review: All PSU banks gain in 2022; 7 surge between 70-161%. Let's take a look

Updated: 19 Dec 2022, 02:30 PM IST
TL;DR.

Nifty PSU Bank is the best-performing index among all NSE indices in 2022. The index has surged 70 percent during the year as against a 22 percent rise in Nifty Bank and a 5.6 percent gain in benchmark Nifty. The PSU Bank index has also hit new highs earlier this month and has surged 7.5 percent in December so far and 15 percent each in November and October on the back of strong earnings for the July-September quarter (Q2FY23). The public sector banks have posted strong earnings in Q2 due to the acceleration in credit growth, improvement in asset quality, rise in loan growth, and decrease in provisions. All stocks in the Nifty PSU Bank index are also positive for the year. Of the 13 stocks in this index, 4 have given multibagger returns in 2022 while 3 have advanced over 70 percent. Let's take a look: