Bank Nifty tops 295 points on broad-based buying; Axis Bank, HDFC Bank, ICICI Bank, IndusInd in a sharp rally

The index has touched an intraday high of 35,317.40 and a low of 34,917.90 respectively.

Jun 15, 2021 02:06 IST India Infoline News Service

Banking stocks were on a bullish trend joining the broader positive markets on Tuesday despite the country's inflation reaching a six-month high led by a rise in food and fuel prices. The sector was among top performers in today's super record-high performance even though global cues were mixed as investors hold on to a much-anticipated Federal Reserve policy meeting scheduled for tomorrow.

At around 2.10 PM, Bank Nifty was trading at 35,245.70 up by 295.10 points or 0.84%. The index has touched an intraday high of 35,317.40 and a low of 34,917.90 respectively.

Axis Bank was the top gainer soaring by 1.7%, while RBL Bank followed with a 1.6% upside. Bandhan Bank and Federal Bank jumped by 1.3% and 1.2% respectively.

Heavyweights ICICI Bank and IndusInd Bank also climbed more than 1% each. HDFC Bank jumped 0.9%.

HDFC Bank will consider dividend in a meeting scheduled on June 18.

IDFC First Bank and Kotak Bank was marginally up, SBI traded flat, while PNB was the top underperformer plunging by 1.2% and AU Small Finance Bank slipped marginally. 

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