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Nifty Bank rallied nearly 600 points to hit a fresh record high after sources told CNBC-TV18 that the government is considering allowing 100 percent FDI in banking sectorBenchmark indices remained strong in morning as the Sensex gained 341.16 points or 0.97 percent at 35,422.98 and the Nifty rose 76.80 points or 0.71 percent to 10,865.30, driven by banking and financials.
About 1,493 shares advanced against 850 declining shares on the BSE.
HDFC Bank has crossed its market capitalisation of Rs 5 lakh crore, retaining third position after Reliance Industries and TCS. The government on Wednesday curtailed its additional market borrowing programme by 60 percent to Rs 20,000 crore as it expects more transfers of surplus cash from the Reserve Bank in the current fiscal ending March 31.
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