Banking Stocks Hog Limelight After RBI Liquidity Boost

New Delhi: Banking stocks were in the limelight on Tuesday, with Axis Bank and HDFC Bank climbing 3 per cent after the Reserve Bank of India (RBI) announced measures to inject liquidity of Rs1.5 lakh crore into the banking system.

According to market experts, these measures are anticipated to ease liquidity conditions and increase the likelihood of an interest rate cut at the upcoming RBI policy meeting in February, offering relief to the banking sector amid concerns over high liquidity deficits. The scrip of Axis Bank rose 3.20 per cent to trade at Rs978.20 apiece, HDFC Bank shares advanced 3.09 per cent to Rs1,680, ICICI Bank by 2.15 per cent to Rs1,254.40 and IndusInd Bank went up 1.98 per cent to Rs944.25 per piece on the BSE.