Shares of 14 banks rose by 5.73% to 20.78% at 9:48 IST on BSE on renewed buying.
Canara Bank (up 20.78%), Union Bank of India (up 16.91%), Yes Bank (up 11.57%), IndusInd Bank (up 9.52%), Bank of India (up 9.37%), Punjab National Bank (up 9.08%), State Bank of India (up 8.59%), Kotak Mahindra Bank (up 8.14%), ICICI Bank (up 7.80%), HDFC Bank (up 7.75%), Bank of Baroda (up 7.03%), Axis Bank (up 6.89%), IDBI Bank (up 6.85%) and Federal Bank (up 5.73%), edged higher.
The S&P Bankex was up at 7.43% at 17,489.38. It outperformed the Sensex, which was up 4.19% at 24,907.75.
The S&P Bankex had outperformed the market over the past one month till 15 May 2014, rising 13.16% compared with 6.32% rise in the Sensex. The index had also outperformed the market in past one quarter, rising 39.65% as against Sensex's 17.38% rise.
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