Economic TimesLean R·
Bulls return to banks on RBI's FCNR(B) initiative
Mumbai: Traders have piled into bullish derivative bets on banks, reversing some of the earlier bearish positions, as the Reserve Bank of India's recent measures to mobilise foreign currency borrowings have brought lenders back to the forefront of the market's rebound.Bank stocks were among the top performers last week, with the Bank Nifty gaining 4.25%, outperforming the Nifty's 1% rise. All constituents of the banking index, barring Yes Bank and PNB, advanced between 1% and 7%.Analysts said s…
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