Banking sector biggest gainer

The biggest gainer in today’s rise in Banking. The BSE Bankex is up 7.55% and the entire baking stocks are up in the green. Canara Bank, Andhra Bank, Oriental Bank, Indian Bank, PNB, IndusInd Bank, HDFC Bank, ICICI Bank, Union Bank, Allahabad Bank, Axis, Karnataka Bank, Syndicate Bank… the entire clan is up.

Banking stocks are the biggest gainers, with FIIs also backing this sector strongly. The perception is that with Modi coming to the Center, economic recovery will resolve the asset quality problems. Brokerages continue to remain bullish on this counter as the new government is expected to revive the economy with infrastructure spending.