Business »  Topic »  Banking stocks rally ahead of RBI press meet; IndusInd Bank, Axis Bank zoom 14-15%

Banking stocks rally ahead of RBI press meet; IndusInd Bank, Axis Bank zoom 14-15%


Indian shares opened higher on March 27, with the Nifty opening above the psychologically important 9,000-mark on expectations of a rate cut ahead of a press conference by RBI governor Shaktikanta Das.

At 0919 hours, the Sensex was trading 980.38 points, or 3.27 percent, higher at 30927.15, and the Nifty 334.70 points, or 3.87 percent, up at 8976.15.

Among the sectors, the Bank Nifty outperformed all other indices, surging over 8 percent.

The RBI's press conference comes a day after Finance Minister Nirmala Sitharaman announced a Rs 1.07 lakh crore relief ...


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