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Nifty Bank gains 3% post RBI's 50 bps hike; analysts see more headroom

The Reserve Bank of India's (RBI's) 50-bps repo rate hike triggered a sharp pullback rally in banking stocks on Friday. The Nifty PSU Bank index did even better with a rise of 3.01 per cent

Topics
Nifty Bank | RBI Policy | Nifty Bank index

Nikita Vashisht  |  New Delhi 



Finance ministry, state-run banks discuss 3-year strategic roadmap
According to YES Securities, the Nifty Bank index ended the September derivatives series at 37,647.75 levels with rollover at 82 per cent (2.4 million shares)

The Reserve Bank of India's (RBI's) 50-basis point (bps) hike triggered a sharp pullback rally in banking stocks on Friday. Relative to the Nifty50's 1.64 per cent gain, the index surged 984 points, or 2.6 per cent, on the National Stock Exchange (NSE). It had rallied 3 per cent intra-day.

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First Published: Fri, September 30 2022. 14:15 IST

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