Bank Nifty at record high; Bank of Baroda surges 6%

The Nifty Bank index was trading higher by 0.85% at 30,276.

Mar 28, 2019 08:03 IST India Infoline News Service

bank nifty
Equity benchmark market has gained momentum in the afternoon session as the rally was led by Bank Nifty, realty, media, IT pharma and FMCG sectors.

The Nifty Bank index was trading higher by 0.85% at 30,276. Bank of Baroda surged 6%, followed by SBI, Yes Bank, PNB which rose over 2.5%, respectively.

ICICI Bank, RBL Bank, Federal Bank, and IDFC First Bank were up 1-2%, respectively.

On the flip side, shares of IndusInd Bank are trading 1% lower.

The Sensex gained 305 points at 38,438 levels, while the Nifty was up 93 points to trade at 11,538. Indiabulls HF, Adani Ports, and HCL Tech were top gainers on Nifty50 while Hindalco, ONGC, and Power Grid fell the most on the index.

Bank of Baroda, in its filing to the exchanges on Thursday, informed that the government has conveyed the decision to infuse the capital of Rs5,042cr in the bank. The stock is currently trading at Rs129.70, up by Rs8.15 or 6.71% from its previous closing of Rs121.55 on the BSE.

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