Bank stocks make significant gains; Yes Bank jumps 8% a day after recording heavy losses
Out of the ten scrips that are part of this index, Yes Bank soared 8.08% to end at Rs 679.95 while ICICI Bank went up over 5% to Rs 283.50.
Most bank stocks were in demand on Tuesday with Yes Bank gaining 8% mainly on value buying, a day after recording heavy losses.
Reflecting bullishness, the S&P BSE Bankex climbed nearly 3% or 484 points to 19,726.30 points.
Out of the ten scrips that are part of this index, Yes Bank soared 8.08% to end at Rs 679.95 while ICICI Bank went up over 5% to Rs 283.50.
Among other scrips, Axis Bank rose over 4% to Rs 502.40 and that of State Bank of India gained more than 3% to Rs 253.40.
Shares of Federal Bank, IndusInd Bank, Union Bank of India, Punjab National Bank and Corporation Bank too ended in the green on BSE.
However, Central Bank of India plunged nearly 10% to Rs 63.05. Besides, shares of Oriental Bank of Commerce and IDBI and Kotak Mahindra also closed in the red.
After a steep fall, the benchmark Sensex made a smart recovery on Tuesday rising over 290 points to 26,032.38 amid value-buying in realty, metals and banking stocks as well as fresh hopes that government might convene a session for passage of GST bill.
In the previous three sessions, the index lost 2,190.08, including yesterday's biggest-ever fall of 1,624.51 points.