Banks stocks shoot up on 100% FDI in private banks reports


Mumbai, Jan 18 (IANS): Banking stocks on Thursday zoomed following reports that the government may allow 100 per cent foreign direct investment (FDI) in private sector banks.

The S&P BSE banking index surged by 1.64 per cent -- almost 500 points higher -- with stocks of major private banks in the lead.

Around 1.30 p.m., stocks of Yes Bank traded higher by 2.99 per cent, followed by HDFC Bank (up 2.79 per cent), IndusInd Bank (up 2.01 per cent), ICICI Bank (up 1.84 per cent), Kotak Bank (up 1.28 per cent) and Axis Bank (up 0.47 per cent).

State-run State Bank of India's shares traded higher by 0.88 per cent while those of Bank of Baroda fell by 0.12 per cent and Punjab National Bank dipped by 0.37 per cent.

On the National Stock Exchange, the Nifty Bank index traded higher by 1.83 per cent.

The Nifty Private Bank index edged higher by 1.85 per cent and the Nifty Public Sector Bank index by 0.21 per cent.

Reports on Wednesday said the government may allow 100 percent foreign direct investment in private banks and also consider increasing the permissible limit for FDI in public sector banks to 49 per cent from the current 20 per cent.

  

Top Stories


Leave a Comment

Title: Banks stocks shoot up on 100% FDI in private banks reports



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.