Foreign fund buying boosts State Bank
DALAL STREET SPIKES
| The stock of India's largest public sector bank was up 2.08 per cent to close at Rs 605.35, after hitting an intra-day high of Rs 640 after the RBI permitted FIIs to make fresh buying in the stock. |
| More than 25 lakh shares changed hands at the counter on the BSE and over 50 lakh shares were traded on the NSE on Thursday. |
| According to analysts, the attractive valuation, falling NPAs and increase in credit offtake are leading fresh buying in most of the bank stocks. |
| RBI allowed fresh FII buying in SBI as the combined holding of FIIs/NRIs and Persons of Indian Origin declined below the limit of 20 per cent. |