Bank stocks surge on hope of better profits

Banking stocks have gained between 5 per cent and 11 per cent on the Bombay Stock Exchange (BSE) in the last two days on higher advance tax payments by banks and a correction in valuation of small banks
A total of 15 banking stocks are currently trading at their respective 52-week highs. These include State Bank of India (SBI), ICICI Bank, Punjab National Bank, Bank of Baroda, Corporation Bank and Oriental Bank of Commerce.
The BSE Bankex, an index of banking stocks, has gained 5 per cent in the last two days. It closed at an 18-month high of 9,361.27 on WednesdayA total of 15 banking stocks are currently trading at their respective 52-week highs. These include State Bank of India (SBI), ICICI Bank, Punjab National Bank, Bank of Baroda, Corporation Bank and Oriental Bank of Commerce.
The BSE Bankex, an index of banking stocks, has gained 5 per cent in the last two days. It closed at an 18-month high of 9,361.27 on Wednesday.