Bank shares: Share market update: Bank shares jump; IndusInd Bank surges 10%

NEW DELHI: Bank shares were trading higher in Monday’s session as the FM proposed Rs 20,000 crore for shoring up the capital of PSBs in order to cope with the bad loans that are expected to go up in the post-pandemic phase in her Budget speech.

Shares of

(up 10.39 per cent) , (up 6.13 per cent) , (up 3.39 per cent) , Bank of Baroda (up 2.5 per cent) , HDFC Bank (up 2.13 per cent) , Axis Bank (up 1.9 per cent) , Federal Bank (up 1.87 per cent) , RBLBANK (up 1.17 per cent) , Bandhan Bank (up 0.32 per cent) , Punjab National Bank (up 0.3 per cent) and Kotak Mahindra Bank (up 0.14 per cent) were among the top gainers.

While IDFC BANK (down 5.51 per cent) was the top losers in the index.

The Nifty Bank index was trading 3 per cent up at 31481.05 around 12:24PM.

Benchmark NSE Nifty50 index was up 196.20 points at 13830.8, while the BSE Sensex was up 678.45 points at 46964.22.

Among the 50 stocks in the Nifty index, 41 were trading in the green, while 9 were in the red.

Shares of Vodafone Idea, Tata Motors, SAIL, YES Bank, PNB, IDBI Bank, IDFC First Bank, Indian Railway Finance Corporation Ltd., Bank of Baroda and ICICI Bank were among the most traded shares on the NSE.

Shares of Sundaram Clayton, ICICI Bank, KNR Construct, Suzlon Energy, Max Healthcare, Cummins India, Dilip Buildcon, Adani Gas and Lakshmi Machine hit their fresh 52-week high in today’s trade, while Jump Networks Ltd., Shrenik Ltd. and Tirupati Forge Ltd. hit fresh 52-week low in trade.