With domestic equity markets soaring higher on the opening bell, it is a fresh start for the day as all-time highs.
S&P BSE Sensex sets a high of 58,472 while NSE Nifty hit 17,421.
Bank Nifty was up with gains nearing 36,900 levels. Also,, the broader markets have been outperforming as midcap and smallcap indices bettered the performance of headline indices.
When it comes to India VIX, it was up 1 per cent. Reliance Industries was the top index gainer, it surged 2 per cent followed by L&T, Bajaj Finserv, and Hindustan Unilever.
Tata Steel was down more than 1 per cent as top laggard on Sensex, followed by Asian Paints, Powergrid, and HDFC Bank.
Few factors that affect bank shares include overall market sentiment, future expectations, fundamental valuation, and the demand for banking services.
Bank shares go up and down depending upon a number of factors playing in the market. For some bank shares are a favourite while others don’t see it as that luring.
The latest Bank shares tally for the moment
|Axis Bank||Rs 802.10|
|HDFC Bank||Rs 1569.45|
|ICICI Bank||Rs 721.15|
|Yes Bank||Rs 11.05|
|Indusin Bank||Rs 994.00|
|Bank of Baroda||Rs 79.05|
|Union Bank of India||Rs 35.20|
|Canara Bank||Rs 160.05|
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With a weaker dollar, commodity prices traded higher. Bullion prices also traded higher in last trading day over weak US job market report.
Moreover, the crude oil prices extended weekly gains on slower than expected output recovery over power outages from Hurricane Ida.
Bank Nifty was also up 0.40 per cent on Monday morning, sitting above 36,900. Nifty PSU Bank index was up 0.73 per cent. All Sectoral indices on NSE were trading with gains.
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