Banking stocks rise broadly; Nifty Private Bank tops 1% as Kotak, IndusInd drive the performance; Yes Bank gains 12%

Kotak Bank and IndusInd Bank were the major boosters of the indexes. While Yes Bank was the top bull in percentage terms.

Sep 14, 2021 02:09 IST India Infoline News Service

Business growth, bull
Banking stocks were broadly on the upside with the majority of buying spree witnessed in private banks. Bank Nifty, although, at a slower pace continued to trade high as private lenders led the surge. Nifty Private Bank advanced more than 1%, while Nifty PSU Bank traded marginally up. Kotak Bank and IndusInd Bank were the major boosters of the indexes. While Yes Bank was the top bull in percentage terms.

At around 2.28 pm, Nifty Private Bank was trading at 19,070.05 up 197.95 points or 1.05%. The index has touched an intraday high of 19,098.75.

Yes Bank was the top gainer soaring more than 12%. IndusInd Bank rallied nearly 4%, while IDFC First Bank jumped nearly 3%.

Kotak Mahindra Bank and RBL Bank advanced nearly 2% each, while Axis Bank and Federal Bank zoomed 0.7% and 0.6% respectively.

Bandhan Bank and ICICI Bank traded flat but in the green.

On the other hand, HDFC Bank was the only underperformer on Nifty Private Bank with a marginal downside.

Bank Nifty surged by 158.10 points or 0.43% and was trading at 36,629.90. The index has touched an intraday high and low of 36,756.00 and 36,529.65 respectively. IndusInd Bank, IDFC First, Kotak, RBL and Axis Bank were top bulls, while HDFC Bank and AU Small Finance Bank were top bears.

Nifty PSU Bank advanced 0.4% and was trading at 2,349.65. 

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