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Bouncing Back! SBI, Axis Bank, AU SFB cross key hurdles, more upside likely

Banking shares have bounced back strongly in trades on Thursday amid hopes of a peace deal between Russia and Ukraine on planned diplomatic talks.

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Avdhut Bagkar Mumbai
The Nifty Bank index was the top gainer in trades on Thursday, as investors rushed to pick-up beaten down shares on hopes of a peace deal between Russia-Ukraine ahead of the planned diplomatic talks.

The Nifty Bank Index soared over 4 per cent or 1,500 points to 35,330. The Nifty Private Bank index rallied 4.3 per cent and the Nifty PSU Bank index added almost 4.5 per cent.

Meanwhile, the key benchmark indices S&P BSE Sensex jumped 2.5 per cent to 56,000-level, and the NSE Nifty was up 2.4 around 16,700-level in mid-morning deals.

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