Banking Stocks Surge After RBI Rate Cut

Banking stocks were seen trading higher after the report that RBI cut repo rates by 25 Basis Points on Thursday.

The RBI Cut interest rates by 25 basis points to 7.75 per cent from 8 per cent. The country's central bank has left the CRR rate unchanged at 4 per cent.

ICICI Bank: Quotes, News

BSE 1090.253.2 (0.29%)

NSE 1090.253.6 (0.33%)

State Bank of India: Quotes, News

BSE 773.757.9 (1.02%)

NSE 773.006.9 (0.89%)

Almost all of the other banking stocks including the PSU banking stocks were up between 3-5 per cent. Allahabad bank was up 5.41 per cent. Smaller private sector banks like South Indian Bank and Lakshmi Vilas Bank were also seen trading higher.

Banking stocks such as ICICI Bank was up 4 per cent, SBI rose 4.53 per cent and Bank of Baroda surged 4 per cent.

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