Bank stocks surge led by SBI, YES Bank; MOIL zooms 10%, Axis Bank hits new 52-week high

The breadth of the market favoured advances, with 1086 stocks advancing, 534 declining and 456 remaining unchanged. On BSE, 1345 stocks advanced 630 declined and 105 remained unchanged.
New week and a new start for the Indian markets with the Sensex and Nifty hitting new record highs. The Nifty50 jumped 100 points and is trading at 11,656 while the Sensex zoomed 354 points at 38,606.

Banking stocks are rallying the most with the PSU bank index adding 1.5 percent led by State Bank of India which is up 1.5 percent followed by Bank of Baroda, Canara Bank, Bank of India, Punjab National Bank and Union Bank of India.

From the private banking space, YES Bank, Kotak Mahindra Bank, RBL Bank, ICICI Bank and IDFC Bank are the top performers.


Nifty metal index has also added over a percent led by MOIL which zoomed 10 percent while Jindal Steel & Power, Hindalco Industries, JSW Steel, NALCO, NMDC, SAIL and Tata Steel added up to 2 percent.

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Source:https://www.moneycontrol.com/news/business/markets/d-street-buzz-bank-stocks-surge-led-by-sbi-yes-bank-moil-zooms-10-axis-bank-hits-new-52-week-high-2883551.html