Nifty Bank tops 130 points; PSU Banks rallies; SBI, Bank of Baroda top gainers

Investors focus shifts on Q3 earning results. Nifty PSU Bank was at 1,944.30 up 2% and Nifty Private Bank was at 17,824.85 higher by 0.23%.

Jan 13, 2021 06:01 IST India Infoline News Service

Bull and bear
Banking stocks were in the fast lane during Wednesday's trading session as investors turn bullish in PSU bank stocks. Investors focus shifts on Q3 earning results.

At around 11.33 am, Nifty Bank was trading at 32,475.15 above 136.15 points or 0.42%. The index has touched an intraday high of 32,683.50.

Nifty PSU Bank was at 1,944.30 up 2% and Nifty Private Bank was at 17,824.85 higher by 0.23%.

On the index, Bank of Baroda took lead as the top gainer surging by 3.3% followed by SBI above 2.5%. Private lender IndusInd Bank gained over 2% as well. While Federal Bank adds 1.6% gain.

Nealy 1% rise each was recorded in stocks like Axis Bank, ICICI Bank and RBL Bank. While PNB witnessed a marginal upside.

Top underperformers on the index were - Bandhan Bank (-2.5%) followed by IDFC First Bank (-1.3%) and Kotak Bank which plunged by near 1%. HDFC Bank dipped marginally.

Banking sector Q3 result season has commenced with Karnataka Bank on Tuesday. Majority lenders are lined up to present their financial performance later this month. 

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