The Bank Nifty surged almost 800 points in trade today, led by smart gains in Axis Bank, HDFC Bank and ICICI Bank.
Nifty Bank Surges 800 Points, Axis Bank Top Gainer
The Bank Nifty was up at 20,080 points, gaining almost 8 per cent in trade. This was despite a foreign brokerage firm downgrading some banks on NPA worries.
Axis Bank gained 5 per cent in trade, while ICICI Bank bank was also up nearly 4 per cent and HDFC Bank gained 3.5 per cent.
Almost all of the smaller banks were also seeing gains in trade, including the likes of Federal Bank, DCB Bank etc.
Meanwhile, the Sensex was trading with gains of nearly 840 points, while the Nifty was up 242 points in trade.