Banking Stocks: HDFC-ICICI and Kotak shares reach 52-week high, Details here

Stock Market Today: Banking stocks have flown very high today. Banking stocks like HDFC Bank and ICICI made a new 52-week record and also pushed the Bank Nifty to a record high.

Banking sector companies did wonders on Monday. Investors are investing heavily in banking shares, due to which the banking sector index jumped by more than one and a half percent on both Sensex and Nifty. Due to this, Nifty Bank and Bankex made the biggest jump in 52 weeks. Nifty Bank Index opened today at 54,891.25 points, which is 423.90 points above the previous 52-week high of 54,467.35. At around 10.52 am, the Nifty Bank Index was at 55,174.70 with a gain of 1.63%, while it had touched the highest level of 55,291.05 till this time.

Banking shares boom today

On the other hand, the sectoral index of banking shares on BSE, Bankex, opened at 62,992.74 on Monday, which crossed the previous 52-week high of 63,442.40 and reached 63,474.32 points. Among banking stocks, Indusind Bank witnessed the biggest gain, rising 5.47% (43.50 points) to 838.20.

Three stocks made 52-week records

Meanwhile, ICICI Bank (0.63%) and HDFC Bank (0.96%) also made 52-week records. Kotak Bank also added its name to this list and achieved a new level of 2,216.90 which is the highest in the last 52 weeks.

These stocks also saw huge gains

Along with IndusInd Bank, IDFC First Bank (4.76%), Yes Bank (4.75%), Axis Bank (3.49%), Federal Bank (3.18%), State Bank of India (3%), Federal Bank (2.96%), Canara Bank (2.67%) and PNB (2.45%) gained tremendous gains in today’s trade.

The boom in the stock market continues

By around 11.05 am, the Sensex had gained nearly 2% while the Nifty had gained nearly 1%. The Sensex jumped 1.92% (1193.13 points) to 63,486.40 while the Nifty was at 24,094.50 with 1.02% (242.85 points). All sectoral indices were in the green except Nifty FMCG and Nifty Media. Not a single thematic index on Nifty was in the red, all were trading with gains.

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