Bank stocks regain some of lost clout in Nifty50

Bank stocks regain some of lost clout in Nifty50

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While bank shares underperformed, technology shares were the top performers, resulting in the sector’s weight on the Nifty surging to 17.58% in November — the highest in over 12 years.

Synopsis

The Nifty Bank index has gained over 15% in the last one month. The rise in weightage could lead to these shares attracting majority of the foreign portfolio inflows.

Mumbai: Bank shares pushed the benchmark indices to all-time closing highs on Monday but their contribution to this record-breaking rally since late-March is probably the lowest in the past decade. The banking and finance sector, which has the highest weightage of 36.41% on the main indices, has recouped a portion of its influence on the benchmarks but it is still below the all-time highs. Investors are pinning hopes on shares of these lenders

BY

ET Bureau

3 mins read, Last Updated:

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