Axis Bank, ICICI Bank, SBI Pushes Bank Nifty To Record High

The markets opened astonishingly high in the Wednesday’s trading session. Nifty is firmly trading above the level of 9300 and have touched an all-time high of 9343. Sensex has created history by crossing the 30000 mark for the first time ever.

In the banking space, the Bank Nifty has also hit its record high level of 22173 in first few minutes of trading on Wednesday. The BSE Bankex is trading higher by 0.5% at 25133. However, the index has hit all time high of 25152.

The private bank stocks like Axis Bank, ICICI Bank, Kotak Bank and PSU stocks like State Bank of India and Punjab National Bank are contributing to the strong upward rally of the bank indices in the Indian equity markets.

As the expiry is coming closer for the derivatives contracts of April series, the Bank Nifty futures contracts of April and May series are trading at discount in the opening hours on Wednesday.

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About Suhani Varma

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