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Banking shares rise

Posted on Dec 19, 07:56PM | UNI

Shares of Non-Banking Financial Companies (NBFC) and banking shares edged up to eight per cent as the Lok Sabha passed a banking bill yesterday, paving way for foreign investments in the banking sector and open new private banks.

In individual stocks, Religare Enterprises, Edelweiss Financial Services, Bajaj Finserv and Mahindra and Mahindra Financials from NBFC and State Bank of Mysore and State Bank of Travancore and State Bank of Bikaner and Jaipur, from banking sector advanced between 3-8 per cent on the Bombay Stock Exchange.

Country's largest private sector bank, ICICI Bank was up by 0.32 pc to Rs 1,152.40,HDFC Bank by 0.58 pc to Rs 679.80. State Bank of India (SBI) rose by 1.04 pc.

Canara Bank edged up by 1.24 pc, Karnataka Bank by 4.34 pc, and Kotak Mahindra Bank by 0.66 pc.