The Bank Nifty has surged 2.3 per cent to 18,964.
Banking shares are in demand following bullish growth forecast for FY16.
The government today pegged its GDP growth forecast for FY16 in the range of 8.1-8.5 per cent in the Economy Survey 2014-15.
The Survey also added that retail inflation for FY16 is seen in the range of 5-5.5 per cent, and WPI inflation is expected to be 0.5-1 per cent below the RBI target.
The Bank Nifty so far has rallied to a high of 18,985, and is now up 2.3 per cent at 18,974.
PSU banks are major movers - Bank of India has zoomed nearly 6 per cent to Rs. 235, and Bank of Baroda has soared 4.7 per cent to Rs. 181.
Punjab National Bank and Canara Bank have rallied over 4 per cent each to Rs. 166 and Rs. 408, respectively.
ICICI Bank and SBI have surged around 3.5 per cent each to Rs. 333 and Rs. 299, respectively. Yes Bank has advanced 3.3 per cent to Rs. 809.
Federal Bank, HDFC Bank and Axis Bank have gained around 1.5 per cent each at Rs. 141, Rs. 1,054 and Rs. 560, respectively.
Meanwhile, the NSE Nifty is now up 116 points at 8,800.
The government today pegged its GDP growth forecast for FY16 in the range of 8.1-8.5 per cent in the Economy Survey 2014-15.
The Survey also added that retail inflation for FY16 is seen in the range of 5-5.5 per cent, and WPI inflation is expected to be 0.5-1 per cent below the RBI target.
The Bank Nifty so far has rallied to a high of 18,985, and is now up 2.3 per cent at 18,974.
PSU banks are major movers - Bank of India has zoomed nearly 6 per cent to Rs. 235, and Bank of Baroda has soared 4.7 per cent to Rs. 181.
Punjab National Bank and Canara Bank have rallied over 4 per cent each to Rs. 166 and Rs. 408, respectively.
ICICI Bank and SBI have surged around 3.5 per cent each to Rs. 333 and Rs. 299, respectively. Yes Bank has advanced 3.3 per cent to Rs. 809.
Federal Bank, HDFC Bank and Axis Bank have gained around 1.5 per cent each at Rs. 141, Rs. 1,054 and Rs. 560, respectively.
Meanwhile, the NSE Nifty is now up 116 points at 8,800.
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