Banking stocks witnessed a blockbuster buying on Thursday ahead of the Christmas holidays. The performance also comes after when the Reserve Bank of India (RBI) governor Shaktikanta Das met MD/CEOs of public sector banks (PSBs) and private banks.
At around 1.53 pm, Nifty Bank was trading at 30,483.00 surges 599.70 points or 2.01%. The index has gained to an intraday high of 30,510.20.
All stocks listed on the Nifty Bank were trading on a higher note.
On Nifty Bank, the gainers' list was led by
Axis Bank soaring over 3.4% followed by Federal Bank and ICICI Bank which advanced more than 2% each.
Between 1.6-2% upside was recorded in heavyweights like Kotak Bank,
SBI, Bank of Baroda and
HDFC Bank. Over 1% gain was seen in IDFC First Bank.
Bandhan Bank and
IndusInd Bank surged over 0.6% each. While RBL Bank and PNB advanced marginally.
The RBI governor met banking sector lenders on December 22 and 23, 2020 respectively through video conference.
Das in the meeting, touched upon the current economic situation and emphasized the importance of the banking sector in supporting the ongoing revival in economic activities. With specific reference to the financial sector, he highlighted the measures taken by the RBI since the onset of the pandemic to stabilise the economy and to ensure financial stability.
Concerning the banking sector, he reiterated the need for banks to remain vigilant and take proactive measures to strengthen their resilience and lending capacity by raising capital and making provisions proactively.