Banking stocks turned green in early trade today after Reserve Bank of India (RBI ) kept repo rate unchanged. BSE bankex rose 300 points after the RBI announced its monetary policy at 10:00 am.
On BSE bankex, ICICI Bank, Bandhan Bank, RBL Bank, City Union Bank, HDFC Bank and Axis Bank stocks rose up to 3%.
Bank Nifty too rose 2.27% or 519 points to 23,708 on BSE.
Sensex also gained 250 points after the RBI kept lending rates unchanged. The index which stood at 40,129 at 9:50 am zoomed to intra day high of 40,378.
Nifty which stood at 11,810 at 9:45 am rose to 11,924 clocking gain of 114 points after the policy announcement.