Bankaktier rusade på måndagen, ledda av långivare inom offentlig sektor, när de statliga obligationsräntorna sjönk. Rörelsen förbättrade sentimentet inom hela sektorn.
Bank Nifty- och Nifty PSU Bank-indexen noterade betydande uppgångar och överträffade det bredare Nifty-indexet. Banker inom offentlig sektor, däribland Union Bank of India, Bank of Baroda, Punjab National Bank och Canara Bank, ledde framgången.
Traders have shifted to bullish positions on Indian banks following measures by the Reserve Bank of India to allow foreign currency borrowing. Bank Nifty rose 4.25 percent last week, outperforming the broader Nifty index.
Rapporterad av AI
Indian stock markets rose more than 1 percent on Monday as the Nifty index crossed back above 24,000. The gains followed positive global signals including hopes for a US-Iran deal and lower oil prices.
Indian IT stocks surged on Monday, outperforming the broader market. The Nifty IT index reached its highest level since April 23.
Rapporterad av AI
The Nifty index achieved a strong breakout above the 23,500 level, leading technical analysts to become more optimistic about further advances.