IDBI Bank rose 3.52 per cent to Rs 105.95 on reports of inflation slipping into the negative territory for the first week of June. Headline inflation dropped to sub-zero levels for the week ended June 6, pegged at negative 1.61 per cent. Most banking stocks were in the limelight with varying gains of 0.5-3.5 per cent.
IDBI Bank grew the highest today on expectations that interest rates could head southwards and boost credit growth. The stock made an intraday high of Rs 109.4 and a low of Rs 99.5. Total traded volumes stood at 92,00,000 shares, up 1.5 times its two-week average.
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