Nifty Bank Index up over 300 pts

Nifty Bank index has been trading higher on Friday. The index was trading at 24,701 level, up by 340 points or 1.40%. The index has surged due to lower retail inflation, higher industrial output growth and hope of early resolution of telecom sector.

ICICI Bank Ltd is currently trading at Rs 273.2, up by Rs 5.65 or 2.11% from its previous closing of Rs 267.55 on the BSE. The scrip opened at Rs 267.5 and has touched a high and low of Rs 273.85 and Rs 267.5 respectively. The stock is currently trading below its 100 DMA.

Canara Bank is currently trading at Rs 310.8, up by Rs 6.5 or 2.14% from its previous closing of Rs 304.3 on the BSE. The scrip opened at Rs 302.5 and has touched a high and low of Rs 312.2 and Rs 302.5 respectively. The stock is currently trading below its 100 DMA.

HDFC Bank is currently trading at Rs 1847.5, up by Rs 32.05 or 1.77% from its previous closing of Rs 1815.45 on the BSE. The scrip opened at Rs 1819 and has touched a high and low of Rs 1850 and Rs 1819 respectively. The stock is currently trading above its 50 DMA.

State Bank of India is currently trading at Rs 254.05, up by Rs 2.45 or 0.97% from its previous closing of Rs 251.6 on the BSE. The scrip opened at Rs 251.6 and has touched a high and low of Rs 255 and Rs 250.3 respectively. The stock is currently trading below its 200 DMA.

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