PSU banks stock at 52-week high on ₹500, ₹1k demonetisation
Shares of public sector undertakings (PSU) banks rose on the Nifty PSU Bank index on Thursday, which hit a 52-week high following the demonetisation of the current ₹500 and ₹1,000 currency notes. The index surged as much as 9.5%. Prime Minister Narendra Modi announced the move in a bid to curb black money, fake currency, and corruption. 