Banking Stocks Surge As US Fed Maintains Status Quo On Interest Rates

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Banking stocks surged in trade after the US Federal Reserve kept interest rates steady in its policy meet.

    Axis Bank was up a huge 5 per cent, while ICICI Bank and HDFC Bank gained 4 per cent in trade. Investors continued to buy into banking stocks after reports that private banks may become fully foreign owned if the proposal to accept overseas investment in the sector to 100 per cent is accepted.

    Banking Stocks Surge As US Fed Maintains Status Quo On Interest Rates
    Apart from this markets are expecting an interest rate cut by the Reserve Bank of India (RBI) later this month. RBI officials meet on Sept 29, to decide on the possibility of an interest rate cut in India. This propelled banking stocks in India.
     

    Public Sector Banking stocks like Canara Bank, Bank of Baroda and Punjab National Bank also gained close to 4 per cent.

    GoodReturns.in

    Read more about: hdfc bank icici bank axis bank
    Story first published: Friday, September 18, 2015, 11:01 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more