Money on the markets
A maturing market amid the mayhem
Banks lead Sensex rise
Email 
Print
BSE Banking Index ended 1.16 percent higher on Tuesday powered by gains in India’s top private lender, ICICI Bank which contributed most of the rise.
Shares in ICICI Bank, (up 1.9 percent), SBI, (up 0.9 percent), Yes Bank, (up 4.3 percent), Kotak Mahindra Bank, (up 2.04 percent) and Axis Bank, (up 1.34 percent).
HDFC Bank and Karnataka Bank remain in negative territory.
The Banking Index rose over 70 percent in 2009 alone while for the month of December it posted a negative return of over 3 percent.
Analysts expect the Reserve Bank of India (RBI) to tighten policy as early as this month, starting with a hike in banks’ cash reserve requirements followed by interest rate rises.
Do you think this is the right time to invest in banking shares or will the Index go further down post a possible rate hike?
Post Your Comment
-
Author Profile
-
- IMF says to extend reach with online economics training
- Nikkei closes at one-week high
- India to sell $7.15 billion in debt quotas to foreign investors on Thursday
- Corrected - Brent holds above $106, all eyes on Fed
- Sensex falls awaiting Fed; bank licence hopefuls surge
- Rupee approaches record low ahead of Fed meeting
- Gold slips for third day on rally in stocks, Fed caution
- Fed seen keeping options open on pace of bond buying
- Nikkei outperforms Asian stocks as Fed looms
- Brent holds above $106, all eyes on Fed
