Bank Nifty reversed its early bearish trend and was trading on a higher note during the second half of Thursday's trading session. The index picked up the pace and has touched an intraday high of 32,143.75. Overall, gains in Bank Nifty was more than 372 points so far today.
At around 2.47 pm, Bank Nifty was trading at 31,976.50 up by 204.90 points or 0.64%.
ICICI Bank was the top gainer surging by 2.2% followed by HDFC Bank advancing by 1.7%. SBI and Axis Bank soared marginally.
HDFC Bank has proposed to raise funds by issuing Perpetual Debt Instruments aggregating to Rs50,000cr over the next twelve months through private placement mode. The Board of Directors would consider this proposal at its ensuing Board meeting to be held on April 17, 2021, where it will also announce its financial performance for the quarter ending March 2021 period.
On the contrary, on Bank Nifty, IDFC First Bank was the top underperformer tumbling by 3.2% followed by AU Small Finance Bank slipping by 2.6%.
IndusInd Bank dived by 2.5%, while Bandhan Bank and Federal Bank dropped by 2.2% and 2% respectively.
PNB plunged by 1.9%, while Kotak Bank recorded a 1% drop.
For the first time since the Covid-19 pandemic hit the country back in early 2020, India has reported over 2 lakh new cases in a day. In the last 24 hours, the Union health ministry data stated that the country reports 2,00,739 new Covid-19 cases with 93,528 discharges and 1,038 deaths.