Nifty PSU Bank: Bank of Baroda emerges as the top-performing PSU bank stock in January so far

Furthermore, Nifty PSU Bank is amongst the few sectors, which are trading above its 20-DMA.

The Indian benchmark indices have witnessed one of their nastiest falls in recent times as Nifty, from the high of 18,350.95, went on to make a low of 16,836.80 in just a matter of just six trading sessions. In this process, the index has slipped below the 20, 50, and 100-DMA levels. Meanwhile, India VIX jumped more than 20 per cent in just a couple of trading sessions of the current week and has now reached its highest level since the last week of November.   

Due to this brutal fall, which has been witnessed in the last six trading sessions, Nifty has now turned negative for the calendar year 2022.   

Amidst all this, there is one sector that has delivered a mouthwatering gain of over 7.5 per cent on an MTD basis and it is amongst the top-performing sector for the month of January 2022. The sector, which we are talking about, is Nifty PSU Bank. In the current week as well, it has outperformed the frontline gauge while on Tuesday, it zoomed over 2.5 per cent with most of its components trading in green. Furthermore, Nifty PSU Bank is amongst the few sectors, which are trading above its 20-DMA.   

Here is the list of the top three performing PSU banks for January 2022, so far: 

Bank of Baroda, which surged 17.94 per cent  

State Bank of India that jumped 10.29 per cent   

And, Canara Bank, which soared 8.63 per cent.