Private banks spike up

In an otherwise lacklustre trading session, private banks rallied on Monday. Yes Bank, IndusInd Bank and Kotak Bank were trading higher.

The rally in the private bank stocks can be attributed to the renewed buying interest shown by foreign investors.

Bank Nifty was trading at 25,775.45 points, up by 0.18 per cent at 14:35 hours on Monday. Among the private banks, Yes Bank lead the rally trading at Rs. 312.95 per share, up by 2.12 per cent, followed by IndusInd Bank at Rs. 1,651.85 per share, up by 1.29 per cent, Kotak Bank at Rs. 1,036.55, up 1.22 per cent, Federal Bank at Rs. 113.30, up 0.67 per cent, HDFC Bank at Rs. 1,835.80, up 0.48 per cent, Axis Bank at Rs. 544.15, up 0.42 per cent. On the other hand, private bank major, ICICI Bank was at Rs. 319.00 per share, down by 1.88 per cent.

Meanwhile among PSU banks, Canara Bank was trading at Rs. 393.05 per share, up by 1.08 per cent, but Bank of Baroda was at Rs. 183.30 per share, down by 0.14 per cent, SBI was at Rs. 335.15, down 0.70 per cent, Punjab National Bank was at Rs. 188.20, down 1.36 per cent.