Nifty above 11,500-mark; RBL Bank, PNB stocks gain

The Nifty Bank hit a record high of 30,133, led by gains in IndusInd Bank, PNB, RBL Bank, and Yes Bank.

Mar 27, 2019 04:03 IST India Infoline News Service

Equity benchmark indices opened higher on Wednesday as the rally was led by IndusInd Bank and HDFC Bank. The Nifty Bank hit a record high of 30,133 levels led by gains in IndusInd Bank, PNB, RBL Bank, and Yes Bank.

The Sensex was up 97 points at 38,331 levels, and the Nifty50 index rose 27 points at 11,510 levels.

In the broader market, the BSE MidCap index was trading at 15,163 levels, up 84 points, while the BSE SmallCap index was trading at 14,735 levels, up ~50 points.

The volatility index, India VIX, was up 1.42% at 16.72.

Shares of GMR Infra gained 2% in the morning session after the company announced that a consortium of a Tata Group company, Singapore's sovereign wealth fund GIC and SSG Capital Management have agreed to invest around Rs8,000cr in its airports business.

The Indian rupee opened lower by 13 paise at 68.99 per dollar vs. 68.86/$ on Tuesday.

IndusInd Bank, Indiabulls HF, Yes Bank, and Airtel are trading higher, while HPCL, BPCL, and Tech Mahindra are trading lower on the NSE.

The most active stocks on the NSE are Yes Bank, GMR Infra, Suzlon, and Reliance Industries.

Shares of RBL Bank rose 2% after a media report said that BlackRock group has bought an undisclosed stake in the company from private equity fund Gaja Capital in block deals executed over three days this month.  

Meanwhile, Asian stocks were mixed on Wednesday with markets falling into a choppy pattern as investors weighing on disappointing economic signs against a decisive turn towards accommodation by major central banks.

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