After what was a disappointing week at Dalal Street, especially for the major banking stocks. The market have turned a leaf over as the marquee, Nifty Bank index, powered by emboldened banking stocks has roared back into form.
In this, the PSB, or public sector banking stocks, including the likes of the State Bank of India, Punjab National Bank, Bank of Baroda and Canara Bank, have all made gains in the intraday trade on Monday, October 28.
Nifty Bank Index
First, when we 'take a stock' of the benchmark Nifty Bank index, the value of the index surged by 1.18 per cent or 599.75 points.
This took the overall value of the index to 51,387.20 points. In the previous week, the Nifty bank index suffered losses of over 1 per cent.
State Bank of India
The shares of the largest lender in the country shot off to new heights after surging by 1.50 per cent or Rs 11.70.
This took the overall value of the SBI shares to Rs 792.65 per piece.
Punjab National Bank
The shares of one of the biggest public sector banks rose significantly. The jump amounted to a massive 3.54 per cent or Rs 3.39 in value.
This puts the shares within touching distance of the Rs 100 mark. The overall value stood at Rs 99.11 per piece.
Bank of Baroda Ltd
The shares of the Vadodra-based Bank of Baroda saw an even bigger jump as the markets bullishly bought BoB shares.
The value of Bank of Baroda shares rose by 5.59 per cent or Rs 13.39. This took the overall value of the shares to Rs 252.91 per piece.
Canara Bank Ltd
The shares of Canara Bank also jumped in the intraday trade on Monday. The shares of the Bengaluru-based bank rose by 4.55 per cent or Rs 4.29.
This took the company shares at Rs 98.53 per piece, taking it from a touching distance from the Rs 100 per share mark.
