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BSE's banking share index ‘Bankex’ had surged 153.28 points, or 1.92%, to 8,143.76 in noon trades on anticipations that interest rates may diminish because of lower inflation.
The existing level is a record high for the Bankex. It also hit a low of 8,019.66 during the day. On 19 July 2006, the Bankex had touched a 52-week low of 4,032.39.
State Bank of India (SBI) boosted 3.21% to Rs 1580, ICICI Bank 1.64% to Rs 966.25, HDFC Bank 0.34% to Rs 1150, Bank of India 0.26% to Rs 228.20, Punjab National Bank (PNB) 2.55% to Rs 541.80.
On the other hand, ICICI Bank, State Bank of India and HDFC bank showed weightages of 40.36%, 17.12% and 13.83%, correspondingly, in the Bankex.

Mumbai: Today, the rupee climbed to its peak level within a month, driven by the viewpoint of soaring investment flows into Asia’s third- biggest economy.
In morning, the rupee was at 40.54/55 a dollar, which is its highest peak since June 6, and strengthening from Monday's 40.65/66.
The chief dealer with the foreign bank anticipating the rupee to trade in a 40.52-40.62 rannge today said, “The positive signals from Asian equities are leading the market to believe that the stock market will do well, and that the inflows will be good.”
He stated that the RBI was expected to get involved at around 40.52 to restrict the rupee’s advancements.

On the back of an increase in interest and fee-based income, ABN Amro Bank has

New Delhi: The government is thinking over ways such as increasing petrol and diesel prices for coping with the surge in worldwide crude oil rates, which have resulted in oil companies losing Rs 170 crore a day.
According to the official sources that an increase of Rs 2 in petrol and a Re 1 in diesel prices is being mooted as Indian basket of crude oil passed over $69 a barrel mark.
Public sector oil companies are receding more than Rs 5.3 a litre on petrol and Rs 4.40 on diesel as Indian basket of crude oil has climbed 12 per cent since February 15, when petrol and diesel prices were down by Rs 2 and Re 1 a litre correspondingly.

Mumbai: Union Bank of India (UBI), Bank of India (BOI) and State Bank of India (SBI) have altered the rate of interest on FCNR (B) and NRE (rupee) depository terms w.e.f July 1, 2007.