SBI m-cap touches record Rs 2 lakh cr mark; shares zoom 6 pc

In line with the broader market, shares of the country's top lender opened on a strong note and never looked back.

In the intra-day trade, the SBI scrip zoomed 6.45 per cent to touch a high of Rs 3,175 -- its highest ever level on the BSE.
The market capitalisation of the SBI soared to a record- level of Rs 2,01,420-crore at its intra-day high level.

However, SBI finally ended at Rs 3,147.25 up 5.52 per cent, with a market valuation of Rs 1,99,849 crore at end of trade today.
State Bank of India's investors got a windfall of about Rs 10,500 crore in just one day of trade as its market capitalisation had been around Rs 1,89,354 crore at the end of trade on Thursday, last week.
Besides, SBI its private sector rivals ICICI Bank and HDFC Bank and other banks also gained considerably.

Marketmen said the unbated inflows of overseas funds is helping the banks and other counters to hit a record high.
"It seems, banking stocks are the top picks by the FIIs. With the hopes of faster revival in the world economy, there are expectations that credit demand will grow as a faster pace than present," Network Stock Brokings Head of Institutional Sales & Strategy Prakash Diwan said.

SBI is the third most-valued firm in the country, after Reliance Industries and ONGC with market caps of Rs 3,24,625 crore and Rs 2,94,287 crore, respectively.
Mortagage lender HDFC zoomed 5.32 per cent, ICICI Bank zoomed 4.43 per cent, while HDFC Bank settled up 1.86 per cent on the Bombay Stock Exchange.
The BSE Bankex index was the top gainer among the various sectoral indices and settled with a gain of 3.62 per cent at 13,454.56 today.

"Banks, led from the front on optimism that lending will pick up in a fast-growing Indian economy and that they are well capitalised," IIFL Vice President, Research – India Private Clients Amar Ambani said.
The BSE benchmark index Sensex today surged 408.67 points to cross the 19,000-level for the first time in 32-months.