Sensex jumps 160 pts, Nifty eyes 9,700; PSU Bank zooms nearly 3%

Epic Update Federal Bank
The rally in the broader market continues as the S&P BSE Smallcap index hit a fresh record high 15,866.14. The index has already rallied over 30 percent so far in the year 2017 compared to near-18 percent rally seen in the S&P BSE Sensex.

The rally in the index was led by gains in Future Consumer, Mannapuram Finance, Cholamandalam Investment, Federal Bank, IDFC, Tube Investments, Prestige Estates, and Caplin Point.

Nifty PSU Bank index rose nearly 3 percent after brokerage houses upgraded leading PSUs Bank of Baroda and Punjab National Bank as valuations turned reasonable after recent correction on NPA concerns.

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