For Quick Alerts
For Daily Alerts

Bank Nifty Jumps 4% On Rs 20 Lakh Crore Economic Package


Banking stocks were seeing huge buying support in trade, with the Bank Nifty jumping 4 per cent in trade.


A large part of the gains were seen on account of heavyweights like HDFC Bank, Axis Bank and ICICI Bank gaining ground.

Bank Nifty Jumps 4% On Rs 20 Lakh Crore Economic Package

Shares in HDFC Bank jumped more than 4 per cent, while ICICI Bank was more than 5 per cent in trade. Axis Bank too was trading with gains of more than 4 per cent.

However, among the slightly smaller sized banks, Bandhan Bank was having a very good day, with the stock up near 7 per cent. The bank posted a pretty good set of results, despite worries over rising NPAs and slowing growth.

The bank posted a 29 per cent quarter-on-quarter (QoQ) decline fall in net profit at Rs 517.28 crore for the quarter ended March 31 due to over two-fold rise in provision and contingencies.

Meanwhile, markets are eagerly awaiting the details of the stimulus package that was announced by the Prime Minister.

Read more about: nifty bank
Story first published: Wednesday, May 13, 2020, 10:08 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X