The Nifty too ended at a lifetime high of 10295.35, up 0.9% from previous close, after hitting 10340.55 intraday.Public sector lenders scripted several records, with the Nifty PSU Bank index surging 29.6% to 4009.8 — its biggest single-day gain. Besides SBI, Canara Bank and PNB also hit 52-week highs on Wednesday.Private lender ICICI Bank rose the most since May 2009 and ended up 14.7% at Rs 305.7. “This (bank recap) was a bold move from an economic point of view. Domestic institutional investors turned net sellers after 23 sessions, offloading shares worth Rs 155.7 crore. It will also help them secure additional equity from the market which can be used for lending whenever demand picks up.

Source: Economic Times October 25, 2017 18:33 UTC