Banking stocks News

The Nifty IT index reached a new high and rallied around 3 per cent during the week after US inflation data met expectations, boosting hopes for a Fed rate cut next week.

The Nifty slumped by 67.85 points, or 0.67 percent, but managed to close above the 10,000-mark at 10,013.65 after touching a low of 9,998.25.

Bank stocks were in the limelight today, surging by up to 9 percent on the government's decision to put in place a mechanism to effectively deal with the problem of mounting bad loans in the sector.

The stocks ended with gains for the second day as the benchmark Sensex rose over 89 points and the Nifty reclaimed the 9,100-mark Friday, driven by banking stocks, amid a firming trend overseas.

In the early trade benchmark stock index Sensex feel by 248 points based on profit booking by investors amid weak Asian cues.

The benchmark BSE Sensex recovered form early losses, trading higher by 32 points in late morning deals, while the Nifty hovered around 8,100-level.

Bullish on banking stocks, Mutual Fund managers have raised their allocation to the sector to all time-high of over Rs 85,376 crore in October.

Sensex Wednesday rebounded by over 214 points to 27,890.13 on value-buying in capital goods, pharma and banking stocks as sentiment improved after Saudi Arabia ended its military campaign in Yemen.

Banking stocks Thursday faced heavy selling pressure and fell by 1-3 percent on profit booking in a weak market.

A sudden bout of selling washed out the benchmark BSE Sensex's initial gains and the index fell by 102 points in late morning trade despite firm Asian cues and fresh capital inflows.

A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), plunged 535 points or 1.82 percent in Monday`s late afternoon trade session as banking, capital goods and information technology (IT) stocks plummeted.

A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), plunged 378 points or 1.28 percent in Monday`s afternoon trade session as banking, capital goods and information technology (IT) stocks plummeted.

The market rallied for the third straight session amid bouts of volatility as the benchmark Nifty finally ended with new closing peak of 8,956.75.

The NSE benchmark Nifty today washed out most of its initial gains and closed just 3.85 points up after markets witnessed fag-end selling pressure in key banking, energy and pharma counters.

Continuing with their bullish stance on banking stocks, mutual fund managers raised exposure to the sector to a historic high of over Rs 76,000 crore in January.

Interest rate-sensitive realty, banking and auto stocks surged up to 18.5 percent Thursday after Reserve Bank Governor Raghuram Rajan sprang a surprise by cutting interest rates by 25 basis points a move that is likely to result in cheaper home and auto loans.