Stock Markets carry on to trade with a positive bias with mid-cap stocks outperforming. Nifty 10,200CE and 10,250CE register unwinding of short positions, showing an upward momentum. Nifty along with Sensex continue with their morning gains, with Banking Index leading the uptrend. BoB and PNB continue to push the Banking Index upwards.
Nifty PSU Bank Index has risen most since inception on government’s capital funding plan. Punjab National Bank up 30%, Bank of Baroda up 22%, State Bank of India up 19%, Union Bank, Bank of India and Canara Bank up 20% each on Nifty PSU bank index on Wednesday late morning hours.
ICICI Bank, SBI, L&T, Ultra Cement and Axis Bank are among the gainers, while HDFC Bank, Yes Bank, Kotak Bank, Indiabulls Housing Finance, and Indusland Bank are losing steam Nifty Index on NSE.
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