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Banking shares continued at their upward march in trade today with most the stocks trading higher by up 3% on the National Stock Exchange (NSE).
ICICI Bank, IndusInd Bank, Axis Bank, Bank of India, YES Bank and Bank of Baroda gained more than 2% each, while Punjab National Bank, State Bank of India, Union Bank of India, HDFC Bank and Kotak Mahindra Bank surged 1-2%.
The NSE banking share index, the Bank Nifty, is the largest gainer among sectoral indices in trade. It moved up 2.2% in morning deals, as compared 1.2% gain in benchmark CNX Nifty.
The Bank Nifty has surged 14.5% so far in March against 4.68% rise in benchmark index. The BSE banking index Bankex too, rallied nearly 15% as compared 4.2% rise in S&P BSE Sensex so far in the current month.
Most of the analyst expects Reserve Bank of India (RBI) to hold key rates in its next monetary policy review as the Consumer Price Index (CPI) fell to a 25-month low in February.
The combined (rural + urban) CPI inflation moderated further to 8.1% during February 2014 as compared to 8.8% in January 2014.
Morgan Stanley said in the context of CPI inflation remaining above 8% in near-term, we expect RBI to keep policy rates on hold at the next monetary policy meeting due ton on April 1.
The foreign brokerage expects retail inflation in India to rise to 8.5% in the near term and cool off to 6.5% by December.
ICICI Bank, IndusInd Bank, Axis Bank, Bank of India, YES Bank and Bank of Baroda gained more than 2% each, while Punjab National Bank, State Bank of India, Union Bank of India, HDFC Bank and Kotak Mahindra Bank surged 1-2%.
The NSE banking share index, the Bank Nifty, is the largest gainer among sectoral indices in trade. It moved up 2.2% in morning deals, as compared 1.2% gain in benchmark CNX Nifty.
The Bank Nifty has surged 14.5% so far in March against 4.68% rise in benchmark index. The BSE banking index Bankex too, rallied nearly 15% as compared 4.2% rise in S&P BSE Sensex so far in the current month.
Most of the analyst expects Reserve Bank of India (RBI) to hold key rates in its next monetary policy review as the Consumer Price Index (CPI) fell to a 25-month low in February.
The combined (rural + urban) CPI inflation moderated further to 8.1% during February 2014 as compared to 8.8% in January 2014.
Morgan Stanley said in the context of CPI inflation remaining above 8% in near-term, we expect RBI to keep policy rates on hold at the next monetary policy meeting due ton on April 1.
The foreign brokerage expects retail inflation in India to rise to 8.5% in the near term and cool off to 6.5% by December.
Morgan Stanley said volatility in food prices and a base effect will result in the CPI inflation, which cooled down to 8.1% for February, to rise to 8.5% in the near term, the PTI report suggests.
The RBI to hold monetary policy rates in its forthcoming policy on April 1, 2014 and until there is a sustained downtrend in headline CPI inflation below the 8.0%-level, the analyst at Angel Broking said in a note.
The RBI to hold monetary policy rates in its forthcoming policy on April 1, 2014 and until there is a sustained downtrend in headline CPI inflation below the 8.0%-level, the analyst at Angel Broking said in a note.
