Markets Bet Big On Banking Stocks As RBI's CRR Cut Decision Looms

Indian banks were in top shape on Wednesday as large parts of the market priced in an impending CRR cut on Friday, when the RBI convenes for its bi-monthly credit policy meet. Public sector banks led the surge. Quality midcaps such as CDSL, KEC, Dixon and OberoiRealty hit fresh record highs. The Nifty Bank index was in top form - rising 1 percent on the back of a record high in HDFC Bank, where daily traded volumes surged more than 4,000 crore rupees.