,India

Financial services stocks tops Indian market

Financial services stocks have outperformed the broader market so far this year gaining 28 percent since January.

 

There was generally a 15 percent rise in the Nifty.

The 15 stock CNX Finance Index, reflects performance of companies from the banking, financial institutions and other financial services companies.

Leading the advances were Reliance Capital and Bajaj Finserv with returns of 64.09% and 63.13 % year to date.

Speculation that the central bank will re-look at the licence applications triggered a rally in these stocks in the trading sessions following the change in leadership of the finance Ministry.

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