Banking big on lenders, bulls went all guns blazing on D-Street on Tuesday as benchmark indices saw a good surge. Benchmarks ended over a percent higher; the Nifty soared past 10,450-mark.
A large part of the rally was fueled by financial names, particularly non-banking financial companies (NBFCs). Investors cheered the news of banks such as State Bank of India (SBI) coming out in support of non-bank lenders. It said that there is still opportunity to buy up to Rs 30,000 crore more of their loans.
In the broader markets, midcaps were big movers in trade today, with the Nifty Midcap index soaring over 4 percent. These also boosted sentiment on D-Street.
Even PSU banks were one of the biggest movers; the Nifty PSU bank index rose over 5 percent. Other gainers include automobiles, which rose around 3 percent.
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Source: https://www.moneycontrol.com/news/business/markets/an-evening-walk-down-dalal-street-bulls-rule-d-street-as-sensex-soars-461-points-nifty-above-10450-3031261.html
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