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.