Kotak Mahindra Bank, HDFC Bank, Axis Bank, State Bank of India, HDFC, ICICI Bank, SBI Life Insurance and SBI Cards from the Nifty Financial index gained up to 2 per cent each.
Nifty Auto, Nifty Realty, Nifty Bank, Nifty Private Bank, Nifty PSU Bank and Nifty Financial Services indices were down in the range of 4 per cent to 5 per cent on the NSE.
The central bank also retained the GDP growth forecast at 9.5% for the on-going fiscal year and revised CPI inflation projection downward to 5.3% which also supported sentiment
At 11:09 am, Nifty Bank, Nifty Private Bank, Nifty PSU Bank and Nifty Auto index were up between 0.20 and 0.40 per cent, as compared to 0.54 per cent rise in the Nifty50 index
At 11:38 am, the Nifty Bank, PSU Bank and Realty indices were trading in the red, while the Nifty Private Bank and Auto indices were trading marginally higher by up to 0.35 per cent on the NSE
The RBI will constitute an Expert Committee which shall make recommendations on the required financial parameters, along with the sector specific benchmark, to be factored into debt resolution plans
At 12:25 pm, Nifty Bank, Nifty Private Bank, Nifty PSU Bank and Nifty Auto indices were down in the range of 1 per cent to 2 per cent on the National Stock Exchange.
Based on publically available data, analysts at Macquarie said in a recent report that YES Bank, Bank of Baroda (BOB) and IndusInd Bank are the most exposed to Indiabulls Group
The case for a cut in rates has also been bolstered by a fall in consumer price inflation for November that came in at 2.33 per cent as compared to 3.38 per cent in October.
While the positive cues have already propelled these stocks to their respective highs, analysts say there could be more headroom to the rally, and investors could stock up from a medium-to-long term perspective
