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The Economic Times

Debaroti Adhikary

PNB, Kotak Mahindra Bank, other bank stocks rise up to 2% after RBI’s rate hike, Nifty Bank above 55,500

RBI Nifty Bank Kotak Mahindra Bank PNB Sanjay Malhotra Canara Bank MPC Union Bank Debaroti Adhikary Axis Direct

Bank stocks gained up to 2% on Wednesday after RBI Governor Sanjay Malhotra announced the MPC’s decision to hike interest rates for the first time in four years, helping the Nifty Bank index gain even as the broader market slipped into the red.

The Nifty Bank index gained more than 147 points to 55,276 on Wednesday morning after the MPC meeting outcome.

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