Rally in PSB stocks propels Bank Nifty to lifetime high

Jun 03 2014, 10:34 IST
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Bank Nifty gained 3.28% on Monday to close at a lifetime high of 15,287.25 points. Bank Nifty gained 3.28% on Monday to close at a lifetime high of 15,287.25 points.
SummaryBank Nifty gained 3.28% on Monday to close at a lifetime high of 15,287.25 points, with PSU banks gaining 3-12% on reports that the government is working on a holding company to infuse capital into PSUs.

quo on interest rates.

“We believe subdued growth is unlikely to prompt it to change its repo rate from 8%. The RBI governor will likely await more clarity on the impact of monsoon rains on CPI inflation and the new government’s commitment to fiscal consolidation,” Standard Chartered Securities said in its report.

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