Tags:
Journalism of Courage
It was the day of bank stocks on Dalal Street. Spirited buying in banking stocks on hopes of consolidation in the sector, gains in metal and auto shares and index heavyweight Reliance Industries RIL boosted the market on Thursday. The S038;P CNX Nifty gained 9.80 points or 0.48 per cent to 2,045.15 8212; a lifetime closing high. The barometer 30-share BSE Sensex surged 28.19 points or 0.44 per cent to 6,441.85.
UCO Bank jumped 19 per cent to Rs 29.30, Syndicate Bank surged 18 per cent to Rs 58.80, BoI galloped 14 per cent to Rs 93, Andhra Bank surged 7 per cent to Rs 86.20, BoB gained 5.7 per cent to Rs 231.80 and Canara Bank gained 5 to Rs 208.70.
As per reports in a section of the media, RBI has given an in-principle approval to the proposed merger of BoI and UBI. Bank of Rajasthan led rally in private sector banks. Bank of Rajasthan jumped 20 per cent to Rs 68.40 on massive volume of 1.08 crore shares.
The Sensex is currently near an all-time high. A surge in FII inflow and easing of selling pressure has pushed the market to a lifetime high.
