Bank Nifty added close to a percent led by Axis Bank which jumped over 3 percent followed by Federal Bank, Bank of Baroda, ICICI Bank, IDFC First Bank, IndusInd Bank and RBL Bank.
The Indian stock market edged higher on July 1 despite surge in coronavirus cases. Sensex is up 180.20 points or 0.52 percent at 35096, and the Nifty jumped 41.40 points or 0.4 percent at 10343.50.
Among the sectors, the banking index traded in the green. Bank Nifty added close to a percent led by Axis Bank which jumped over 3 percent. It was also one of the top index gainers. The other performers included Federal Bank, Bank of Baroda, ICICI Bank, IDFC First Bank, IndusInd Bank and RBL Bank.
ICICI Bank shares added over a percent.The bank has cuts lending rates by 15 bps across tenors.
The PSU Bank index added 2 percent led by Bank of Baroda which jumped 4 percent followed by Canara Bank, Indian Bank, Punjab National Bank, State Bank of India and Union Bank of India.
Bank of Baroda was one of the most active stocks on NSE in terms of volumes with 2,28,91,668 shares being traded at 11:15 hours.
Shares of South Indian Bank shed almost 2 percent. It was also one of the most active stocks on NSE in terms of volumes with 2,37,34,601 shares being traded.