Banking stocks surge after RBI cuts repo rate by 25 bps to 5.25%
Indian banking stocks surged as Monetary Policy Committee (MPC) under the Reserve Bank of India (RBI) at its fifth bi-monthly monetary policy for the current fiscal (FY26) has unanimously decided to cut the short-term lending rate or repo rate by 25 basis points (bps) to 5.25 per cent, in a bid to further bolster economic growth, which rose to a six-quarter high of 8.2 per cent in the second quarter of the current financial year.
Punjab National Bank is currently trading at Rs. 121.45, up by 1.90 points or 1.59% from its previous closing of Rs. 119.55 on the BSE. The scrip opened at Rs. 119.40 and has touched a high and low of Rs. 121.95 and Rs. 119.20 respectively. So far 1072588 shares were traded on the counter.
State Bank of India is currently trading at Rs. 962.15, up by 14.10 points or 1.49% from its previous closing of Rs. 948.05 on the BSE. The scrip opened at Rs. 948.80 and has touched a high and low of Rs. 964.65 and Rs. 946.80 respectively. So far 329463 shares were traded on the counter.
HDFC Bank is currently trading at Rs. 1,005.70, up by 8.70 points or 0.87% from its previous closing of Rs. 997.25 on the BSE. The scrip opened at Rs. 990.95 and has touched a high and low of Rs. 1007.90 and Rs. 990.95 respectively. So far 248019 shares were traded on the counter.
