The Bank Nifty hit an all-time high on March 27 as the rally in banking stocks continued for the second consecutive day. The index surpassed its previous record high of 30,008 registered on March 22 and hit a fresh intraday high of 30,129.25 in the morning trade.
The rally was led by IndusInd Bank (up 3.8 percent), followed by RBL Bank (up 1.86 percent), Yes Bank (up 1.5 percent), PNB (up 1.3 percent), and Bank of Baroda (up 1 percent).
As many as two stocks in the Nifty Bank hit a fresh 52-week high. HDFC Bank surged to Rs 2,328.05, and RBL Bank rose to Rs 667.80 intraday on March 27.
Most experts feel that the rally is here to stay and investors can remain net long in the index with an initial target of 30,250. The support is seen at 29,500.
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