The banking sector index Bank Nifty today hit a record high of when it rose 1% to 41,840 at day’s high. Banking stocks have outperformed the broader markets on expectations good credit growth and FII buying. The broader Nifty today was higher and traded above 18,000 levels. “FII selling was maximum was in banks and IT over the last six months. Now with capex looking strong and credit growth picking up with festive season round, the corner guidance from banks is also very positive,” said IIFL Securities Director Sanjiv Bhasin.
(This story has not been checked by Kashmir Bulletin and is auto-generated from other sources)