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RBI Boosts To Help NBFCs, Banks Stock Rally

Bank-Nifty-stocks

The Reserve Bank of India (RBI) today announced simulative steps to push liquidity in the Indian economy.

Accordingly, Reverse-repo cut was slashed to 3.75-percent from 4 percent earlier to help banks lend more. Some other steps were also introduced in favour of the lenders.

On a positve reation, shares of non-banking financial companies (NBFC) such as Indiabulls Housing Finance, Mahindra&Mahindra Financial, L&T Holdings, Shriram Transport,  gained over 7-pc on RBI’s boost.

Nifty financial service climbed 2.50 percent, Nifty BanK, Private bank were also trading positively. Get the updated Free Nifty tips, best stock tips  from the expert.

At 12.30-pm, the Sensex scaled higher by 453 points and the Nifty higher by 123 points in trade.