Equity benchmark indices rebound from day’s low and hit fresh intraday high in the morning trade, with the Nifty50 heading towards the 11,650 level. The Sensex was up 205 points at 39,169 and the Nifty50 index was up 51 points at 11,640.
The market breadth was positive on the NSE, 950 shares rose and 713 shares fell. A total of 464 shares were unchanged.
The Nifty PSU Banking index surged over 2% at 2,310.25 as the rally was led by Indian Bank, Oriental Bank and Bank of India.
Shares of SBI rose 2.5% on the banking index, followed by Union Bank, Canara Bank and Bank of Baroda, which also rose over 2% each.
Shares of IT major Infosys recovered in the morning trade after wiping out Rs53,000cr yesterday following whistleblower complaints alleging corporate malpractices. The stock is currently trading up nearly 3% on the NSE.
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