Home / Markets / News / Banking stocks see strong gains, Bank Nifty rallies 11% in three days

Banking stocks see strong gains, Bank Nifty rallies 11% in three days

The gains come after huge selling pressure and consequent under-performance of banking stocks since the start of March

Premium

Banking stocks are not alone in getting support due to monthly expiry of derivatives contracts

4 min read Last Updated : May 29 2020 | 2:56 AM IST

Banking stocks have seen strong gains this week, with the Nifty Bank index surging nearly 11 per cent in the last three sessions (starting May 26). In comparison, the Nifty has risen just 5 per cent.

The gains follow huge selling pressure and the consequent under-performance of banking stocks since the beginning of March. The financial sector, banks, and non-banking financial companies (NBFCs) are seen as the worst-hit by the lockdown.

Therefore, the Nifty Bank had lost 41 per cent between February 28 and May 22, compared to a 19 per cent fall in the Nifty. Some individual bank stocks

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in