Mumbai, December 5 (Udaipur Kiran): Banking stocks surged on Friday after the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) unanimously decided to cut the repo rate by 25 basis points to 5.25 per cent in its fifth bi-monthly monetary policy for FY26. The rate cut was aimed at further supporting economic growth, which rose to a six-quarter high of 8.2 per cent in the second quarter of the current financial year.
Shares of Punjab National Bank were trading at Rs 121.45, up by 1.90 points or 1.59 per cent on the BSE from the previous close of Rs 119.55. The stock opened at Rs 119.40 and touched an intraday high of Rs 121.95 and a low of Rs 119.20. A total of 10,72,588 shares were traded on the counter.
State Bank of India was trading at Rs 962.15, higher by 14.10 points or 1.49 per cent from its previous close of Rs 948.05. The scrip opened at Rs 948.80 and moved between a high of Rs 964.65 and a low of Rs 946.80 during the session. A total of 3,29,463 shares were traded.
Shares of HDFC Bank were trading at Rs 1,005.70, up by 8.70 points or 0.87 per cent from the previous close of Rs 997.25. The stock opened at Rs 990.95 and touched an intraday high of Rs 1,007.90 and a low of Rs 990.95. A total of 2,48,019 shares were traded on the counter.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
