ETF

PSU Bank Bees ETF Jumps 3% Today

We all know that PSU Bank Bees is a very volatile ETF. But what happened today on 3 April 2024 was very unexpected. PSU Bank Bees ETF has closed at a gain of 2.15% today after going down by 0.40% today.

Let’s talk about the big movements that took place in this ETF today.

What is PSU Bank Bees ETF?

This is an index under which all the PSU banks of India come. You can see the list of all these banks below and the percentage of contribution of each bank in this ETF is also given in it.

PSU Banks in this ETF	Percentage of your money invested per share
State Bank of India	29.05
Bank of Baroda	17.12
Punjab National Bank	13.10
Canara Bank	12.01
Union Bank Of India	9.18
Indian Bank	6.73
Bank if India	6.58
Bank of Maharashtra	2.11
Indian Overseas bank	1.43
Central Bank of India	1.35
UCO Bank	1.07
Punjab & Sind Bank	0.27

How was the movement in PSU Bank Bees ETF today?

PSU Bank Bees ETF was opened today at a down of 0.30%. It had fallen 0.40% by noon.

But after noon suddenly a wave started appearing in it and it started coming in positive.

At 1:20 PM this ETF will accelerate so much that it suddenly increases by 2.50%. This ETF maintained this momentum till the market closed.

As much as it fell and from there onwards, during this entire movement, this ETF increased by 3% in just one day.

Today many investors have made huge profits in this asset. Not only has there been profit booking in this ETF, but after seeing so much growth in this ETF today, a good amount of investment has also come.

What was the reason for the growth of this ETF?

The main reason behind the increase in this ETF was that all the banks under it saw a boom.

Indian Bank was the only bank which saw a decline compared to other PSC banks. Indian Bank fell 0.92% today.

If we talk about which bank is the biggest among all the PSU banks, Its name is Punjab National Bank. This bank increased by 6.67% today.

Along with Punjab National Bank, many other banks have seen a rise of two to four percent, such as Canara Bank, Bank of India, Bank of Maharashtra, Indian Overseas Bank, Central Bank of India, and UCO Bank.

Will we see more growth in PSU Bank Bees ETF in the coming days?

As we have been seeing in the Indian stock market for some time now, government banks are witnessing more growth as compared to private banks.

This ETF covers all the government banks of India. There is no doubt that government banks will show more growth in the coming times also.

Some experts said the PSU sector will be one of the highest-growing sectors in the Indian stock market after the Lok Sabha election.

So in the coming time, we will see even more growth in this ETF. You may get to see some corrections in it from time to time, but if you talk about the future, this ETF will prove to be very beneficial for investors.