Friday, 5 May 2017

SBI extends rally, hits fresh 52-week high

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Shares of State Bank of India continued gaining streak for the second day on Friday, hitting a 52-week high, on the Bombay Stock Exchange after Union Cabinet on Wednesday approved new non-performing assets (NPA) policy to deal with stressed assets. Extending previous session rally, shares of the bank gained as much as 1.6 percent to hit a 52-week high of Rs 303.55 apiece on the Bombay Stock Exchange. The script was currently trading at Rs 303.40 against the previous close price of Rs 298.80. 

In a similar fashion, stocks of lender were trading 1.02 per cent higher at Rs 302.10 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 30,001.70, down 124.51 points or 0.41 percent, at 11:15 hour.

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