Barometers hit day`s high; Bank Nifty above 35,000 mark

The key equity indices firmed up further and hit fresh intraday high in afternoon trade. The Bank Nifty recovered from early lows and crossed the 35,000 mark.

At 13:25 IST, the barometer index, the S&P BSE Sensex, was up 227.45 points or 0.40% to 57,351.76. The Nifty 50 index added 63.50 points or 0.37% to 17,067.25.

Tech Mahindra (up 2.92%), Cipla (up 1.50%), Dr. Reddy`s Laboratories (up 1.34%) and SBI Life Insurance (up 1.02%) major major NIfty gainers.

Hindalco Industries (down 1.39%), Titan Company (down 0.66%), Asian Paints (down 0.63%), ONGC (down 0.61%) and Bajaj Finance (down 0.59%) were major Nifty losers.

In the broader market, the S&P BSE Mid-Cap index rose 0.20% while the S&P BSE Small-Cap index gained 0.42%.

The market breadth was positive. On the BSE, 2087 shares rose and 1294 shares fell. A total of 175 shares were unchanged.

The Nifty Bank was up 0.57% at 35,054.20. The index reversed from the day`s low of 34,233 hit in early trade today. The index fell 0.95% in the previous session.

ICICI Bank (up 1.22%), PNB (up 1.09%), Kotak Mahindra Bank (up 1.04%), Axis Bank (up 0.77%), Federal Bank (up 0.56%), HDFC Bank (up 0.49%) and SBI (up 0.4%) advanced.

RBL Bank was down 15%. The bank`s board on 25 December 2021 accepted the request of Vishwavir Ahuja to proceed on medical leave and appointed Rajeev Ahuja (existing executive director of the bank) as the interim managing director & CEO of the bank subject to regulatory and other approvals. Further, the Reserve Bank of India (RBI) has appointed Yogesh Dayal as an additional director on the board of RBL Bank for a period of two years till 23 December 2023 or till further orders, whichever is earlier.

Separately, RBI clarified that RBL Bank is well capitalised and the financial position of the bank remains satisfactory. Further, it added that there is no need for depositors and other stakeholders to react to the speculative reports.

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