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The Economic Times
The Economic Times
Debaroti Adhikary

Nifty Bank surges 700 points to one-month high; HDFC Bank, Yes Bank, PNB, other stocks rise 2%. What lies ahead?

Nifty Bank HDFC Bank PNB YES Bank Donald Trump Bank Nifty Iran United States Oil

Bank stocks gained sharply on Friday amid broader market optimism, pushing the Nifty Bank index higher up more than 700 points (over 1%) to a one-month high level.

The Nifty Bank index jumped to 55,885, as seen at 10.30 am. Notably, this is the highest level the sectoral index has seen since May 7 this year. This came after US President Donald Trump said on Thursday that the US and Iran could sign a peace deal as soon as this weekend, which would reopen the Strait of Hormuz for shipping.

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