Equities buoyant ahead of RBI briefing, banking stocks surge
Last Updated : Mar 27 2020 | 12:06 PM IST
Mumbai, Mar 27 (ANI): Equity benchmark indices were buoyant during early hours on Friday ahead of a media briefing by Reserve Bank of India (RBI) Governor Shaktikanta Das, raising hopes of liquidity-infusing steps to absorb the economic impact of coronavirus amid a countrywide lockdown. A day earlier, Finance Minister Nirmala Sitharaman unveiled a Rs 1.7 lakh crore economic package and announced various welfare measures to tide through the rising pandemic. At 10 am, the BSE S and P Sensex was up by 940 points or 3.14 per cent to 30,887 while the Nifty 50 edged higher by 341 points or 3.95 per cent to 8,983. All sectoral indices at the National Stock Exchange were in the positive terrain with Nifty private bank up by 8.4 per cent, PSU bank by 8.1 per cent, financial service by 6.8 per cent and realty by 6.2 per cent. Among stocks, IndusInd Bank continued its yesterday's upward glide and clocked a gain of 20 per cent to Rs 523.05 per share while Axis Bank was up by 15 per cent.