Nifty PSU Bank, Nifty Auto, Nifty Bank and Nifty Realty indices were up in the range of 0.24% to 1% on the National Stock Exchange (NSE), as compared to 0.28% gain in the Nifty 50 index. Bank Nifty ended 0.6% higher at 23,567. The index gained nearly 1% to hit its all-time high of 23,575 in intra-day trade post RBI policy.
Oriental Bank of Commerce, Punjab National Bank, Bank of Baroda, Eicher Motors, Mahindra & Mahindra, Maruti Suzuki India, Hero MotoCorp and Indiabulls Real Estate from these sectors added more than 1% each.
Statutory liquidity ratio (SLR) was cut by 50 basis points to 20 per cent starting June 24, in order to provide more liquidity to banks.
RBI, however, softened its hawkish stance owing to fall in retail inflation to a record low and weak growth. The retail inflation in April was 2.99%, well below RBI’s own target of 4%. The RBI lowered its inflation forecast for the current financial year.
Shriram City Union Finance, Can Fin Homes, ICICI Prudential Life Insurance Company, GIC Housing Finance, PNB Housing Finance and Gruh Finance, from the financials, were up between 3% and 6%.
BANK | LATEST | PREV CLOSE | GAIN(%) |
ORIENTAL BANK | 157.70 | 151.40 | 4.16 |
DCB BANK | 203.25 | 196.40 | 3.49 |
SOUTH IND.BANK | 28.40 | 27.65 | 2.71 |
BANK OF INDIA | 146.15 | 142.50 | 2.56 |
CITY UNION BANK | 173.80 | 169.50 | 2.54 |
STAND.CHART.PLC | 53.00 | 51.70 | 2.51 |
CORPORATION BANK | 51.50 | 50.25 | 2.49 |
FEDERAL BANK | 115.15 | 112.70 | 2.17 |
ICICI BANK | 324.95 | 318.65 | 1.98 |
PUN. & SIND BANK | 54.90 | 53.85 | 1.95 |
DENA BANK | 34.30 | 33.70 | 1.78 |
KARNATAKA BANK | 176.40 | 173.45 | 1.70 |
PUNJAB NATL.BANK | 151.85 | 149.40 | 1.64 |
RBL BANK | 550.20 | 541.95 | 1.52 |
CANARA BANK | 363.45 | 358.05 | 1.51 |
ALLAHABAD BANK | 71.65 | 70.60 | 1.49 |
BANK OF BARODA | 176.90 | 174.50 | 1.38 |
ST BK OF INDIA | 290.90 | 287.25 | 1.27 |
UNION BANK (I) | 159.40 | 157.45 | 1.24 |
INDIAN BANK | 314.70 | 310.85 | 1.24 |
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