For long put down by analysts, particularly in preference to their private sector peers, PSU banks have become the toast of the markets with 10 of the 12 stocks in the CNX PSU Bank index hitting fresh 52-week highs on the day the market excitement has reached a peak to coincide with the swearing in of the new Prime Minister Narendra Modi.

Only Union Bank and BoB did not join the party and, in fact, BoB is marginally in the red.

It was not as if the PSU bank stocks rocketed in value to touch new yearly highs today. The gains made by them today was only marginal. But even these gains pushed them to new 52 week highs since they had already rallied phenomenally, particularly in the past one month after election surveys began predicting a comfortable victory for the BJP led NDA.

Andhra Bank reached a new high of Rs 104.75 before easing to Rs 101.65, a gain of Rs 8.10. The other bank stocks with their 52-week highs in brackets are Allahabad Bank (Rs 140.90), Syndicate Bank (Rs 163), IOB (Rs 86.50), IDBI Bank (Rs 102.60), Canara Bank (Rs 491.85), Bank of India (Rs 357), OBC (Rs 364.95), PNB (Rs 1067.95) and SBI (Rs 2834.90).

The only exceptions were Union Bank of India which reached a high of Rs 238 (as against its 52 week high of Rs 248.70) and Bank of Baroda which is actually down, losing Rs 1.45 to trade at Rs 953.05.

Some other PSU Bank stocks outside the index too touched new yearly highs. Indian Bank reached a new high of Rs 199.20 and UCO Bank surged to a fresh yearly high of Rs 114.90.

Vijaya Bank touched a yearly high of Rs 58.75 and Central Bank Rs 85.60.

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