Sensex at record high, bank shares soar on recapitalisation plan
Story highlights
The Bombay Stock Exchange (BSE) Sensex climbed as much as 1.6 per cent to a record high of 33,117.33, buoyed by a surge in prices of banking shares after the Cabinet nod to a $32.43 billion plan to recapitalise state banks over the next two years.
State Bank of India, the biggest lender, rose more than 20 per cent. Punjab National Bank, the second biggest public sector lender, surged more than 33 per cent.
Bonds, however, fell, given the injection will be funded with debt, Reuters reported.
trending now
)
Freed hostage says she met Hamas chief in Gaza, asked how he wasn't 'ashamed' of himself
)
Bangkok-bound flight lands in Delhi after husband and wife's mid-air fight
)
Railways minister Ashwini Vaishnaw drops major update on India’s bullet train project
)
Man goes blind in love: US woman stabs rabies needle in boyfriend's eye for looking at other women
)
BCCI likely to ask Rohit Sharma to lead in South Africa T20I series: Reports
)
Kuwaiti Emir Sheikh Nawaf taken to hospital after emergency: Report
)
Supermassive black hole in our galaxy spinning rapidly, altering space-time around it: scientists
)
IND vs AUS 4th T20I probable playing 11: India vs Australia squads, timing, venue, live-streaming details
)
Turkey may ratify Sweden's NATO membership 'within weeks': Swedish minister
)
IND vs AUS 4th T20: Weather and pitch report from Raipur ahead of India vs Australia 4th T20 match
)
India: Cyclone brewing in Bay of Bengal could bring very heavy rainfall in Chennai
)
‘Earth will collide with moon,’ This is what a rogue star can do to our solar system
)
India votes in favour of UNGA resolution, calls on Israel to withdraw from Syria's Golan Heights
)
Rajasthan Assembly Elections 2023: Check result date, number of seats, candidates & all you need to know
)
Uber strikes deal with London drivers to rope in iconic black cabs on its platform
The benchmark NSE Nifty rose as much as 1.3 per cent to a record high of 10,340.55.
Bonds fell, with the benchmark 10-year bond yield up 3 basis points to 6.81 percent from its previous close.
