Top five buzzing banking stocks

Amidst speculations about a bank consolidation with the merger of two large banks, the bank stocks surged in the market on intraday basis. While Nifty Bank index traded at 21,860.30, up by 0.98 per cent, BSE Bankex gained by 1.24 per cent indicating price rise in the bank stocks. 

Nifty is also trading above the 9,200-mark and benchmark index Sensex is up by nearly 230 points. 

The market is discounting the forthcoming earnings season's outcome while pegging hopes on higher earnings in the banks. 

 The Bank of Baroda gained by 1.11 per cent on BSE, trading at Rs 177.85 on April 18, 2017 at 13:21 hrs. Canara Bank is trading at Rs 316.70, higher by 2 per cent. 

ICICI Bank trading at Rs 288.20, gained 2.31 per cent on the BSE. While Bank of India is trading at Rs 153.05, up by 4.15 per cent at the same time, becoming the top gainer in the BSE Bankex.

State Bank of India also gained on the bourses by 1 per cent, trading at Rs 291.35 on April 18, 2017 at 13:21 hrs, as the government began the process of consolidating bank by merging five associate banks with SBI, effective from April 1, 2017.