The banking stocks benchmark of NSE — Nifty Bank — advanced over 1% to breach 25,000 point mark again on Monday with HDFC Bank and Yes Bank marking a fresh lifetime high. The equity benchmark Nifty 50 hit a lifetime high on Monday, surpassed the record high of 2 August, rising as much as 81 points to mark a fresh counter of 10,167.15 points. The benchmark Sensex too fared in the early trade, gaining 236 points to the day’s high of 32,508.06 points following the record closing on Wall Street on Friday.
Nifty Bank gained 104 points to open at 24,948.15 points and within minutes of trading, it added 261 points to hit the day’s high of 25,105.35 points, which was left 93 points short of its all-time high of 25,198.8 points – as on 2 August 2017. Shares of IndusInd Bank (up 2.57%), Axis Bank (up 1.54%), Kotak Mahindra Bank (up 1.47%), and Federal Bank (up 1.26%) were the top gainers on the index. The stock of market cap leader HDFC Bank and India’s fifth-largest private sector lender Yes Bank advanced 0.83% to Rs 1,864.45 and 1.46% to Rs 1,872 to hit their respective lifetime highs.
Other components of Nifty Bank which also fared today include IDFC Bank (0.41%), ICICI Bank (0.48%), and Punjab National Bank (up 0.03%) while Bank of Baroda (down 0.1%), Canara Bank (down 0.23%), State Bank of India (down 0.35%) lost marginally.
The benchmark Sensex gained 89 points to open at 32,361.37 points while the 50-share indicator advanced 48 points to open at 10,133.1 points. The rupee appreciated by 7 paise to 64.01 against the US dollar today.
Wall Street reached record highs on Friday, with the S&P 500 surpassing 2,500 points as telecommunications shares rose and technology bounced back after two days of declines. The Dow Jones Industrial Average rose 0.29% to end at 22,268.34 points, while the S&P 500 gained 0.18% to 2,500.23 points, records highs for both. The Nasdaq Composite added 0.3% to 6,448.47 points.