Banking stocks are buzzing on bourses, with the Nifty bank index zooming over 6.25-percent today. Apart from banking stocks, all sectional indices witness strong buying.
During the mid-session at 12.20-pm, the Bank Nifty was up more than 1076 points at 18,326.00 after touching an intraday high level at 18,498.50.
IndusInd Bank gained 14.4-pc, while Axis Bank surged 12.21-pc and ICICI Bank gained 7.52-pc at this point. Most of the other banking indices in the Nifty Bank index are trading increasingly high, at the same time.
The Nifty Pharma index also climbed for the eighth consecutive session with major gains in Cadila Health care, Aurbindo-Pharm and Cipla. Track the best stock to watch today, top market updates from here.
Meanwhile, the Sensex surged at 29222-mark, up by 1631-pts and the NSE Nifty stood higher at 8559-mark, up by over 475 points.
India continues to witness an increasing level of COVID-19 infections with the level now reaching new highs. Investors also remain anxious that if the lock-down is extended to further than April-14, it might lead to more stress for the industry.