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Seven banking stocks account for 40% of the Nifty’s 1000 point rally

The momentum in banking stocks has helped the Nifty touch a new high, given the 36 per cent weight these stocks have on the NSE’s benchmark index. HDFC Bank, ICICI Bank, SBI, and IndusInd Bank have gained 10-21% since the NSE Nifty hit its recent low in February 2019. Out of the top 10 stocks that pushed the index to a new high, seven are from the banking space and these have contributed 40% of the index’s last 1,000-point gain. 

Read More at The Economic Times News date : 17 Apr 2019, Wednesday

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